What are adjusting entries and why are they necessary quizlet?

What are adjusting entries and why are they necessary quizlet? Adjusting entries are necessary to enable financial statements to be in conformity with GAAP. Adjusting entries are necessary to ensure that the revenue recognition principle is followed. Adjusting entries are necessary to bring the general ledger accounts in line with the budget. What are adjusting … Continue reading What are adjusting entries and why are they necessary quizlet?