Adjustments are necessary for transactions and events that extend over more than one accounting period.

Name: Adjustments are necessary for transactions and events that extend over more than one accounting period.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Adjustments are necessary to properly allocate expenses and revenues to the accounting periods in which they occurred, especially for transactions that span multiple periods. This ensures accurate financial statements and reporting.

Adjustments Are Necessary for Transactions and Events That Extend Over