In Which of These Circumstances Are Adjusting Journal Entries Made

question 34

Multiple Choice

In which of these circumstances are adjusting journal entries made at the end of the period?

• A) when the cash basis of accounting is used for all accounting periods
• B) when cash receipts and payments occur before or after the point when revenues and expenses should be recognized under accrual accounting
• C) when management reports its adjustments on the statement of cash flows
• D) when the company reports revenue in the same period cash is collected

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Definitions:

Leukocyte

Leukocytes, also known as white blood cells, are cells of the immune system involved in protecting the body against both infectious disease and foreign invaders.

Erythrocyte

A red blood cell, which is responsible for carrying oxygen from the lungs to the body's tissues and carbon dioxide as a waste product back to the lungs.

Parietal Layer

The outer layer of the membranes surrounding organs within body cavities, particularly in the pleura, pericardium, and peritoneum.

Glomerulus

A cluster of tiny blood vessels in the kidneys where blood filtration begins.