Both adjusting journal entries and reclassifying journal entries are ordinarily recorded by the client.

Question

Quizplus · Accepted Answer

Adjusting journal entries are typically recorded by the client to adjust the books at the end of an accounting period, but reclassifying journal entries, which are used to correct errors or reorganize accounts, can also be suggested or prepared by auditors or accountants during a review or audit process.

Both Adjusting Journal Entries and Reclassifying Journal Entries Are Ordinarily