Question

Entries made at the end of an accounting period to bring all accounts up to date on an accrual basis, so that the company can prepare correct financial statements.

Answer 1

The subject of this question is Business and it pertains to the process of preparing correct financial statements at the end of an accounting period.

Step-by-step explanation:

Business

High School

The subject of this question is Business and it pertains to the process of preparing correct financial statements at the end of an accounting period. This process involves making adjusting entries to bring all accounts up to date on an accrual basis. These entries ensure that revenues and expenses are recognized in the correct accounting period, which allows the company to present accurate financial information.