The purpose of an adjusting entry is a/an:
A)Accurate Profit and Loss statement and Balance Sheet.
B)Create menu (+) Credit Card Credit.
C)Gear Account and Settings Advanced.
D)Gear Manage Users.
E)None of these.

Question

The purpose of an adjusting entry is a/an:
A)Accurate Profit and Loss statement and Balance Sheet.
B)Create menu (+)> Credit Card Credit.
C)Gear > Account and Settings > Advanced.
D)Gear > Manage Users.
E)None of these.

Quizplus · Accepted Answer

Adjusting entries are made in accounting to ensure that revenues and expenses are recorded in the period in which they occur, leading to an accurate Profit and Loss statement and Balance Sheet. Choices B, C, and D refer to actions in software or system settings, not accounting principles.

The Purpose of an Adjusting Entry Is A/an