Companies make adjustments to more accurately reflect items on the income statement and the balance sheet.

Name: Companies make adjustments to more accurately reflect items on the income statement and the balance sheet.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Adjustments are made by companies to more accurately reflect the revenues earned and expenses incurred during a period on the income statement, and to accurately present assets, liabilities, and equity at a point in time on the balance sheet.

Companies Make Adjustments to More Accurately Reflect Items on the Income