Adjusting Entries Are Journal Entries Made at the End of an Accounting

Multiple Choice

Adjusting entries are journal entries made at the end of an accounting period for the purpose of:

A) Recording internal transactions.
B) Updating related liability and asset accounts.
C) Assigning revenues to the period in which they are earned.
D) Assigning expenses to the period in which the expiration of benefit has incurred.
E) All of these answers are correct.