Adjusting Entries That Are Made to Adjust for the Effects

question 71

Multiple Choice

Adjusting entries that are made to adjust for the effects of errors made in previous entries are called

• A)corrections.
• B)estimates.
• C)deferrals.
• D)accruals.
• E)revaluations.

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Definitions:

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A mathematical representation used in economics to model the preference satisfaction or happiness that a consumer derives from consuming goods and services.

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