The Need for Adjusting Entries Results from Timing Differences Between

question 35

True/False

The need for adjusting entries results from timing differences between the receipt or disbursement of cash and the dates on the financial statements.

---

Definitions:

Prepare for the Worst

A strategy of planning for or anticipating the most adverse outcome in a situation.

Thinking Patterns

The habitual ways in which an individual processes information, perceives situations, and makes decisions.

Spouses

Legally married partners or significant others in a committed relationship.

Remarry

The action of getting married again after a previous marriage has ended, either through divorce or the death of a spouse.