MC9 What is the purpose of adjusting entries?
A. To correct errors in the accounts
B. To update the accounts to reflect changes in the business
C. To prepare the financial statements
D. To close the accounts at the end of the accounting period
Answer:B
MC9 What is the purpose of adjusting entries?
A. To correct errors in the accounts B. To update the accounts to reflect changes in the business C. To prepare the financial statements D. To close the accounts at the end of the accounting period