Why Are Adjusting Entries Prepared

question 163

Multiple Choice

Why are adjusting entries prepared?

• A)Because some accounts are not up to date.
• B)Because some day to day transactions have not been recorded.
• C)Because the financial statements are misstated.
• D)A and C

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Definitions:

Substance Abuse

The injurious or perilous utilization of substances that affect mental processes, including alcohol and unauthorized drugs.

United States

A country located primarily in North America, comprising 50 states, a federal district, five major self-governing territories, and various possessions.

Mood Disorders

A category of mental health disorders where a person’s mood is consistently inappropriate or fluctuates extremely, affecting their daily functioning.

Personality Disorder

A type of mental disorder characterized by rigid and unhealthy patterns of thinking, functioning, and behaving.