If management desires monthly financial statements Select on

If management desires monthly financial statements Select one: O a. Journalizing and posting adjusting entries must be completed each month. O b. Journalizing and posting closing entries must be completed each month. O c. Monthly financial statements can be prepared from worksheets; adjustments and closing entries need not be entered in the accounting records. O d. Adjusting and closing entries must be entered in the accounting records before preparation of interim financial statements

Solution

If the management wants to monthly financial statements than we have to close all the adjusing entries and closing entries every month.

So for monthly financial statement we need both closing and adjusting entry before preparation of interim financial statement

Answer = Option D