Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 13 - No. 33)
Which statement is correct about adjusting entries?
Adjusting entries are made at the beginning of the accounting period.
Adjusting entries are made at the end of the accounting period.
Adjusting entries are only made for cash transactions.
Adjusting entries are optional.
Explanation
Adjusting entries are made at the end of the accounting period to ensure revenues and expenses are recorded in the proper period.
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