End of period adjustments are most often the result of:
A)errors in recording previous transactions.
B)closing off the accounts.
C)errors found in the trial balance.
D)timing differences.

Question

Quizplus · Accepted Answer

End of period adjustments are typically made to account for timing differences, such as accruals or prepayments, that have not been recorded in the accounting system. These adjustments are not the result of errors in recording previous transactions or errors in the trial balance, and they are not related to closing off the accounts at the end of the period.

End of Period Adjustments Are Most Often the Result Of