Class 11 Final Accounts with Adjustments

To decrease the liabilities of the business

To increase the total assets of the business

To simplify the process of financial reporting

To ensure accurate presentation of financial position and performance (correct)

To analyze the cash flow for the accounting period

To calculate the total expenses incurred during the accounting period

To ascertain the net profit or loss for the accounting period (correct)

To determine the total revenue generated during the accounting period

To increase the value of fixed assets

To reduce the total liabilities of the business

To decrease the net profit for the accounting period (correct)

To avoid recognizing unexpected expenses in the next accounting period

<p>To ensure that income is not overstated in the financial statements</p> Signup and view all the answers

<p>Addition to revenues</p> Signup and view all the answers

<p>To accurately reflect the financial position and performance of the business</p> Signup and view all the answers

<p>To avoid understating expenses and overestimating profits</p> Signup and view all the answers