Adjustment in Final Accounts

To ensure that the financial statements reflect the true financial position of the company at the end of the accounting period.

No, accurate financial statements require adjusting entries.

Prepaid expenses, accrued revenues, accrued expenses, and depreciation.

<p>To reflect the true financial position of the company at the end of the accounting period</p> Signup and view all the answers

<p>To comply with accounting principles and accurately report financial information</p> Signup and view all the answers

<p>Adjusting entries help align revenue and expenses with the appropriate accounting period</p> Signup and view all the answers