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Which of the following statements is true regarding adjusting entries?



A. Adjusting entries are necessary to properly measure the periods net income
B. Adjusting entries are used to correct posting errors
C. Adjusting entries are a major aspect of cash basis accounting
D. Adjusting entries do not affect balance sheet accounts

This question is part of acc 255 final
Asked by Cjm, Last updated: May 29, 2020

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John Smith

John Smith

Answered Jun 18, 2017

Adjusting entries are necessary to properly measure the periods net income
 

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