Adjusting Entries Are Made at the End of the Period

question 67

Multiple Choice

Adjusting entries are made at the end of the period because of the need to

• A)adjust the balance in the cash account for the effects of all daily transactions with customers and creditors.
• B)assure that all revenues and expenses are recognized in the period in which they are earned or incurred.
• C)assure that debits are equal to credits prior to preparing the trial balance.
• D)prepare revenue and expense accounts for recording transactions in the next accounting period by bringing the balances to zero.

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Definitions:

Genotype

The genetic makeup of an organism, consisting of both the visible traits and those not expressed.

Genetic Makeup

The set of genes or genetic material present in an organism's cells that determines their characteristics.

Behavioural Genetics

The field of study that examines the role of genetic and environmental factors in shaping behaviors and traits.

Inherited Traits

Genetic characteristics passed down from parents to offspring, determining various physical and, to some extent, psychological features of individuals.