Part of accrual accounting depends upon recording ________ entries at the end of the accounting period.
A)expense
B)revenue
C)adjusting
D)debit

Question

Quizplus · Accepted Answer

Accrual accounting relies on matching expenses to the revenue they helped generate. The adjusting entries made at the end of each accounting period ensure that all revenue and expenses are recorded in the period in which they were earned or incurred, regardless of when they were actually paid or received. These entries update account balances to reflect the true financial position of the business.

Part of Accrual Accounting Depends Upon Recording ________ Entries at the End