B. C. D. there are never enough accounts to record all the transactions. 1 2 3. B) many transactions affect more than one time period. C) There are always errors made in recording transactions. Accounts often need to be adjusted because Select one: a. c. there are always errors made in recording transactions. Wiki User Answered . a. there are never enough accounts to record all the transactions. Study modes: 7/10 The Quizlet App has basic study modes ranging from simple card review through matching games and various types of tests. straight forward because the accounts that need adjustment will be out of balance. A) There are never enough accounts to record all the transactions. The revenue recognition principle is the basis of making adjusting entries that pertain to unearned and accrued revenues under accrual-basis accounting.They are sometimes called Balance Day ⦠Accounts often need to be adjusted because? In accounting/accountancy, adjusting entries are journal entries usually made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred. Cards are easy to view, with intuitive icons for navigation, study modes, audio, and card organization. Management can't decide what they want to report. d. There are always errors made in recording transactions. D) management can't decide what they want to report. Answer. b. many transactions affect more than one time period. Accounts often need to be adjusted because? Many transactions affect more than one time period. 17) Accounts often need to be adjusted because A. before the trial balance. However, if you have a set with more terms, the question limit is ALWAYS preset to 20. c. There are never enough accounts to record all the transactions. Accounts often need to be adjusted because A) there are never enough accounts to record all the transactions. For example, depreciation is usually calculated on an annual basis. b. d. management can't decide what they want to report 19) The adjusted trial balance is prepared after financial statements are prepared. D) Management can't decide what they want to report. Asked by Wiki User. C) there are always errors made in recording transactions. only required for accounts that do not have a normal balance. optional when financial statements are prepared. General ledger accounts need to be adjusted because many accounts require "updates" to reflect the passage of time or accruals, which do not... See full answer below. Accounts often need to be adjusted because. B) Many transactions affect more than one time period. 16) Adjusting entries are required 17) Accounts often need to be adjusted because 18) The preparation of adjusting entries is 19) Can financial statements be prepared directly from the adjusted trial balance? App interface: 9/10 The Quizlet Android App is well-designed and easy to use. 2014-07-06 17:22:53 2014-07-06 17:22:53. ⦠Because I only made 10 terms, this test uses all 10 of them. Top Answer. Accounts Receivable is an asset account, while Accounts Payable is a liability account. These two accounts are also never affected during the adjustment process. This also relates to the matching principle where the assets are used during the year and written off after they are used. Thus, it is recorded at the end of the year. B. 20) Financial statements are prepared directly from the A. the SEC is a private organization of accountants. So if you would like Quizlet to make you one test using all of your terms, just tell it to. often an involved process requiring the skills of a professional. These expenses are often recorded at the end of period because they are usually calculated on a period basis. ) there are never enough accounts to record all the transactions this test all! 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