Companies using the accrual concept of accounting to complete the measurement process at the year end through the recording of adjusting entries.
<h3>What is an accrual concept?</h3>
An accrual concept is one of the method which records the incomes at the time when it is earned or charges when it is incurred.
Adjusting entries are the entries recorded in the accounting books to close all the accounts at the year end. It helps in determining the correct amount of charges and revenues at the time of finalizing the accounting statements.
Therefore, the adjusting entries are used by the company to complete the measurement process while applying the accrual concept.
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Answer:
The correct answer is True.
Explanation:
The two areas are responsible for the physical management of any economic transaction of the entity, therefore effective control means the custody of said documents for proper internal management of financial information. Both checks and remittances are care transactions that must be properly supported.
A recession occurs when there are two or more consecutive quarters of negative economic growth, meaning GDP growth contracts during a recession. As companies struggle with less cash and revenue, they first try to reduce their costs by lowering wages or ceasing to hire new workers, which can stop employment growth
Answer:
product mix
Explanation:
The combination of product lines offered by a manufacturer is called the firm's: product mix.
A. Early Childhood Development.