The accrual basis of accounting requires adjustments to be made for prepaid, unearned, and accrued items.

Name: The accrual basis of accounting requires adjustments to be made for prepaid, unearned, and accrued items.
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The accrual basis of accounting requires adjustments to be made for prepaid expenses, unearned revenue, and accrued expenses and revenues in order to accurately match revenues and expenses to the period in which they are earned or incurred.

The Accrual Basis of Accounting Requires Adjustments to Be Made