Adjusting Entries Are Necessary So That Asset, Liability, Revenue, and Expense

question 244

True/False

Adjusting entries are necessary so that asset, liability, revenue, and expense account balances are correctly recorded.

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Definitions:

ACC

In the context of programmable logic controllers, ACC refers to the Accumulator, a register that holds interim arithmetic and logic results.

Time Base

The reference timing signal or scale used in various electronic or digital systems to measure or synchronize the timing of processes or events.

TT

Often refers to "Temperature Transmitter," a device that converts temperature measurements into a standardized output signal for process control.