Which of the following is not accomplished by an adjusting entry?   A. Updating liability and asset accounts to their proper balances. B. Assigning revenues to the periods in which they are earned. C. Assigning expenses to the periods in which they are incurred. D. Assuring that financial statements reflect the revenues earned and the expenses incurred.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Which of the following is not accomplished by an adjusting entry?

 

A. Updating liability and asset accounts to their proper balances.

B. Assigning revenues to the periods in which they are earned.

C. Assigning expenses to the periods in which they are incurred.

D. Assuring that financial statements reflect the revenues earned and the expenses incurred.

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