Match the terms below with the correct definitions.
-Process of recording internal transactions at the end of the fiscal period for updating some accounts
A)Fiscal year
B)Trade-in value
C)Accrued wages
D)Work sheet
E)Contra account
F)Accounting cycle
G)Mixed accounts
H)Adjusting
I)Depreciation

Question

Quizplus · Accepted Answer

Adjusting entries are made at the end of the fiscal period to update accounts and ensure that they reflect the correct balances.

Match the Terms Below with the Correct Definitions