Adjusting entries are made to ensure that a expenses are rec

Adjusting entries are made to ensure that: ?a) expenses are recognized in the period in which they are incurred b) revenues are recorded in the period in which the performance obligation is satisfied c) balance sheet and income statement accounts have correct balances at the end of an accounting period d) all of the above

Solution

Adjusting entries are made

To recongnize the expense in which they are incurred

To record the revenue in the period in which it is performed

and to assure that income statement and balance sheet have correct balance at the end of the period

So the correct answer is D all the above