Balance Day Adjustments

Question 1

_______________ are adjustments to assets and liability accounts (and corresponding revenues or expenses) to reflect the impact of accounting periods on underlying transactions. They commonly result in accruals and prepayments, depreciation and inventory adjustments.

Answer 1

Balance day adjustments

Question 2

Balance day adjustments are ___________________________ (and corresponding revenues or expenses) to reflect the impact of accounting periods on underlying transactions. They commonly result in accruals and prepayments, depreciation and inventory adjustments.

Answer 2

adjustments to assets and liability accounts

Question 3

Balance day adjustments are adjustments to assets and liability accounts (__________________) to reflect the impact of accounting periods on underlying transactions. They commonly result in accruals and prepayments, depreciation and inventory adjustments.

Answer 3

and corresponding revenues or expenses

Question 4

Balance day adjustments are adjustments to assets and liability accounts (and corresponding revenues or expenses) to ______________________ on underlying transactions. They commonly result in accruals and prepayments, depreciation and inventory adjustments.

Answer 4

reflect the impact of accounting periods

Question 5

Balance day adjustments are adjustments to assets and liability accounts (and corresponding revenues or expenses) to reflect the impact of accounting periods on _________________. They commonly result in accruals and prepayments, depreciation and inventory adjustments.

Answer 5

underlying transactions

Question 6

Balance day adjustments are adjustments to assets and liability accounts (and corresponding revenues or expenses) to reflect the impact of accounting periods on underlying transactions. They _______________ accruals and prepayments, depreciation and inventory adjustments.

Answer 6

They commonly result

Question 7

Balance day adjustments are adjustments to assets and liability accounts (and corresponding revenues or expenses) to reflect the impact of accounting periods on underlying transactions. They commonly result in _____________________________.

Answer 7

accruals and prepayments, depreciation and inventory adjustments.

Question 8

Balance day adjustments are adjustments to assets and liability accounts (and corresponding revenues or expenses) to reflect the impact of accounting periods on underlying transactions. _________________________________.

Answer 8

They commonly result in accruals and prepayments, depreciation and inventory adjustments

Question 9

Balance day adjustments are adjustments to assets and liability accounts (and corresponding revenues or expenses) to _____________________________________. They commonly result in accruals and prepayments, depreciation and inventory adjustments.

Answer 9

reflect the impact of accounting periods on underlying transactions