Some accounts need to be adjusted because
A) there are never enough accounts to record all the transactions.
B) they are not up to date at the time financial statements are prepared.
C) there are always errors made in recording transactions.
D) management can't decide what they want to report.

Question

Quizplus · Accepted Answer

Accounts need to be adjusted to ensure they reflect the true financial position and performance of a company at the time financial statements are prepared, as some transactions may not be recorded or updated in real-time.

Some Accounts Need to Be Adjusted Because