Part of accrual accounting depends upon recording ________ entries at the end of the fiscal year.
A)expense
B)revenue
C)adjusting
D)debit

Question

Quizplus · Accepted Answer

Accrual accounting requires adjusting entries to be made at the end of the fiscal year to ensure that all revenues and expenses are properly recognized in the correct period. These entries typically involve adjusting accounts for items such as prepaid expenses, accrued revenue, and accrued expenses. Therefore, the correct answer is C) adjusting.

Part of Accrual Accounting Depends Upon Recording ________ Entries at the End