If monthly financial statements are desired by management:
A)Journalizing and posting adjusting entries must be done each month.
B)Journalizing and posting closing entries must be done each month.
C)Monthly financial statements can be prepared from worksheets; adjustments and closing entries need not be entered in the accounting records.
D)Adjusting and closing entries must be entered in the accounting records before preparation of interim financial statements.

Question

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The Answer of If monthly financial statements are desired by management:
A)Journalizing and posting adjusting entries must be done each month.
B)Journalizing and posting closing entries must be done each month.
C)Monthly financial statements can be prepared from worksheets; adjustments and closing entries need not be entered in the accounting records.
D)Adjusting and closing entries must be entered in the accounting records before preparation of interim financial statements.

If Monthly Financial Statements Are Desired by Management