Multiple Choice
Which one of the following is not a justification for adjusting entries?
A) Adjusting entries are necessary to ensure that revenue recognition principles are followed.
B) Adjusting entries are necessary to ensure that the expense recognition principle is followed.
C) Adjusting entries are necessary to enable financial statements to be in conformity with IFRS.
D) Adjusting entries are necessary to bring the general ledger accounts in line with the budget.
Correct Answer:
Verified
Correct Answer:
Verified
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