Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 26 - No. 9)
Which of the following is true about the impact of adjusting entries?
They are recorded at the end of an accounting period.
They help in preparing the financial statements.
They ensure the matching principle is followed.
They are recorded to fix the previous journal entries.
Explanation
Adjusting entries are recorded at the end of a period to follow the matching principle and prepare the financial statements.
Comments (0)
