The two main accounting principles used in the adjusting process are matching and full disclosure.
Correct Answer:
Verified
Q1: Adjusting entries are made after the preparation
Q2: The 12 consecutive months (or 52 weeks)
Q4: Internal transactions often include cash payments.
Q5: Companies with little seasonal variation in sales
Q6: If equipment were purchased from an outside
Q7: Adjusting entries are designed primarily to correct
Q8: The natural business year can only be
Q9: The matching principle requires that revenue be
Q10: Interim financial reports cover a firm's business
Q16: A company's fiscal year must correspond with
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents