Question: Adjusting entries: ( Select all that apply. ) are needed before financial statement preparation. are required in cash - basis accounting only. update the accounts

Adjusting entries: (Select all that apply.)
are needed before financial statement preparation.
are required in cash-basis accounting only.
update the accounts to their proper balances.
are prepared at the beginning of the period.
Adjusting entries: (Select all that apply.) are needed before financial statement

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