Entries required to clear or zero the balances of the temporary accounts at the end of the year are called adjusting entries.

Name: Entries required to clear or zero the balances of the temporary accounts at the end of the year are called adjusting entries.
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Entries required to clear or zero the balances of the temporary accounts at the end of the year are called closing entries, not adjusting entries. Adjusting entries are made to record revenues and expenses in the period they occur.

Entries Required to Clear or Zero the Balances of the Temporary