Adjusting entries a reflect unrecorded economic activity tha

Adjusting entries (a) reflect unrecorded economic activity that has taken place but has not yet been recorded, and (b) are always made on a daily basis. True or False

Solution

A) True

B) False

Adjusting entries reflect unrecorded economic activity that has taken place but has not yet been recorded and they are generally prepared at the end of of accounting period to match revenues and expenses properly.