Question: In your own words. 5. Explain adjusting entries for deferrals 6. Explain adjusting entries for accruals 7. Describe the nature and purpose of an adjusted

In your own words. In your own words. 5. Explain adjusting entries for deferrals 6.

5. Explain adjusting entries for deferrals 6. Explain adjusting entries for accruals 7. Describe the nature and purpose of an adjusted trial balance 8. Explain the revenue recognition principle 9. Explain the expense recognition principle 10. What are the different types of accounting period

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