An adjusting entry is completed ________.
A) at the beginning of the accounting period
B) at the end of the accounting period
C) after all performance obligations are satisfied
D) when accounts need to be balanced in the ledger

Question

Quizplus · Accepted Answer

Adjusting entries are completed at the end of the accounting period to ensure that all income and expenses have been recorded accurately, and to update various accounts to their correct balances before preparing financial statements. Therefore, option B is the correct answer.

An Adjusting Entry Is Completed ________