Adjusting journal entries are made
A) at the beginning of the accounting period
B) at the end of the accounting period
C) when revenue is realized or realizable)
D) anytime we need to adjust an account

Question

Quizplus · Accepted Answer

Adjusting journal entries are typically made at the end of the accounting period to update the accounts and ensure that the financial statements reflect the correct amounts. This includes adjustments for accrued expenses, prepaid expenses, depreciation, and revenue earned but not yet billed, among others.

Adjusting Journal Entries Are Made