Entries required at the end of an accounting period to bring certain account balances up-to-date are known as adjusting entries.

Name: Entries required at the end of an accounting period to bring certain account balances up-to-date are known as adjusting entries.
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Question

Quizplus · Accepted Answer

This statement is true. Adjusting entries are made to update certain account balances at the end of an accounting period. They are necessary to ensure that financial statements are accurate and up-to-date.

Entries Required at the End of an Accounting Period to Bring