Adjusting Entries Made at the End of an Accounting Period

question 165

Multiple Choice

Adjusting entries made at the end of an accounting period accomplish all of the following except:

• A) Assigning expenses to the periods in which they are incurred.
• B) Assigning revenues to the periods in which they are earned.
• C) Assuring that financial statements reflect the revenues earned and the expenses incurred.
• D) Updating liability and asset accounts to their proper balances.
• E) Assuring that external transaction amounts remain unchanged.

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Definitions:

Psychopathology

The study of mental disorders and abnormal behaviors, including their symptoms, etiology, and treatment.

Biological Factors

Refers to the genetic, neurological, and physical conditions that affect an individual's development and behavior.

Diathesis-stress Model

A psychological theory that explains behavior as a predispositional vulnerability together with stress from life experiences.

Mental Disorders

Conditions characterized by disturbances in a person's thoughts, emotions, or behavior.