Entries prepared to ensure that revenues and expenses have been appropriately recorded in the accounting period to which they relate are called

Question

Quizplus · Accepted Answer

Adjusting entries are made in the accounting process to allocate income and expenditures to the appropriate period. They ensure that the revenue recognition and matching principles are followed, adjusting for items that have not yet been recorded by the end of the accounting period.

Entries Prepared to Ensure That Revenues and Expenses Have Been