If Management Desires Monthly Financial Statements

Multiple Choice

If management desires monthly financial statements:

A) Journalizing and posting adjusting entries must be completed each month.
B) Journalizing and posting closing entries must be completed 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.