Adjusting journal entries are only necessary when year end financial statements are prepared.

Name: Adjusting journal entries are only necessary when year end financial statements are prepared.
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Question

Quizplus · Accepted Answer

Adjusting journal entries are necessary not only at year end but also at the end of any accounting period when financial statements are prepared, to ensure that revenues and expenses are recognized in the period in which they occur.

Adjusting Journal Entries Are Only Necessary When Year End Financial