Adjusting entries are prepared for________ .
A)Prepaid Expenses
B)Depreciation
C)Drawing
D)Both A and B

Name: Adjusting entries are prepared for________ . A)Prepaid Expenses B)Depreciation C)Drawing D)Both A and B
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Question

Quizplus · Accepted Answer

Adjusting entries are prepared for items like Prepaid Expenses and Depreciation to allocate expenses and revenues to the appropriate periods, but not for Drawings, which are distributions to owners.

Adjusting Entries Are Prepared For________