The main purpose of adjusting entries is to:
A. Correct errors in the accounting records.
B. Record external transactions and events.
C. Recognize debts paid during the period.
D. Record internal transactions and events.
E. Recognize assets purchased during the period.
Answer: D
You might also like to view...
Many wordy phrases have been overused so much that they have become ___________
a. familiar b. outdated c. jargon d. clichés
What do business product classes reflect?
A. what producers think about the products and how they are promoted B. what intermediaries think about the products and how they should be marketed C. what buyers think about the products and how they are used D. what distributors think about the products and how they must be distributed E. what customers think about the products and how they must be priced
Accounts Receivable, Net (or Net Accounts Receivable) equals Accounts Receivable (gross) minus:
A. Bad Debt Expense. B. Current Liabilities. C. Cost of Goods Sold. D. Allowance for Doubtful Accounts.
Research methods, procedure and models of research methodology will help you best achieve your
a) Research objectives b) Research design c) Variables d) Data display