Purpose of Adjusting Entries

question 40

Essay

Purpose of adjusting entries
The president of Crown Construction was informed that the first quarter financial statements would be available "as soon as the adjusting entries are made." Being a non-accountant,the president feels adjustments should not be necessary if the accounting department is operating in a competent manner.Does the need for adjusting entries at the end of the quarter imply that transactions are not being recorded properly? Explain.

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A measure of central tendency; the most frequent score in a distribution of scores.

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A demographic often used in psychological and educational research, referring to students in their second year of college.

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