The Purpose of Adjusting Entries Is To

question 111

Multiple Choice

The purpose of adjusting entries is to:

• A)Prepare the revenue and expense accounts for recording the revenue and expenses of the next accounting period.
• B)Record certain revenue and expenses that are not properly measured in the course of recording daily routine transactions.
• C)Correct errors made during the accounting period.
• D)Update the owners' equity account for the changes in owners' equity that had been recorded in revenue and expense accounts throughout the period.