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:

Tongue

A muscular organ in the mouth, vital for taste, swallowing, and speech.

Trochlear Nerves

The fourth cranial nerves, primarily responsible for eye movement, specifically controlling the superior oblique muscle.

Trigeminal Nerves

Cranial nerves responsible for sensory information in the face and motor functions such as biting and chewing.

Abducens Nerves

Cranial nerves responsible for controlling the movement of a muscle that abducts the eye.