All of the following statements are true except one. Which statement is false? a. adjusting entries are
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Question:
a. adjusting entries are required for a business that uses a cash basis.
b. accrual accounting produces better information than cash-basis accounting.
c. a fiscal year may end on some date other than December 31.
d. the expense recognition principle directs accountants to identify and measure all expenses incurred and deduct them from revenues earned during the same period.
Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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