b. A) There are never enough accounts to record all the transactions. straight forward because the accounts that need adjustment will be out of balance. optional when financial statements are prepared. These two accounts are also never affected during the adjustment process. For example, depreciation is usually calculated on an annual basis. a. there are never enough accounts to record all the transactions. These expenses are often recorded at the end of period because they are usually calculated on a period basis. before the trial balance. d. There are always errors made in recording transactions. 19) The adjusted trial balance is prepared after financial statements are prepared. Accounts often need to be adjusted because. d. management can't decide what they want to report Thus, it is recorded at the end of the year. Accounts Receivable is an asset account, while Accounts Payable is a liability account. This also relates to the matching principle where the assets are used during the year and written off after they are used. So if you would like Quizlet to make you one test using all of your terms, just tell it to. Accounts often need to be adjusted because? C) there are always errors made in recording transactions. Many transactions affect more than one time period. only required for accounts that do not have a normal balance. 20) Financial statements are prepared directly from the A. the SEC is a private organization of accountants. Accounts often need to be adjusted because? In accounting/accountancy, adjusting entries are journal entries usually made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred. 17) Accounts often need to be adjusted because A. Top Answer. B) Many transactions affect more than one time period. Cards are easy to view, with intuitive icons for navigation, study modes, audio, and card organization. D) Management can't decide what they want to report. D) management can't decide what they want to report. C) There are always errors made in recording transactions. B) many transactions affect more than one time period. b. many transactions affect more than one time period. c. there are always errors made in recording transactions. However, if you have a set with more terms, the question limit is ALWAYS preset to 20. Study modes: 7/10 The Quizlet App has basic study modes ranging from simple card review through matching games and various types of tests. Because I only made 10 terms, this test uses all 10 of them. Answer. App interface: 9/10 The Quizlet Android App is well-designed and easy to use. Asked by Wiki User. Accounts often need to be adjusted because Select one: a. B. General ledger accounts need to be adjusted because many accounts require "updates" to reflect the passage of time or accruals, which do not... See full answer below. 2014-07-06 17:22:53 2014-07-06 17:22:53. … Wiki User Answered . often an involved process requiring the skills of a professional. The revenue recognition principle is the basis of making adjusting entries that pertain to unearned and accrued revenues under accrual-basis accounting.They are sometimes called Balance Day … c. There are never enough accounts to record all the transactions. Management can't decide what they want to report. B. C. D. there are never enough accounts to record all the transactions. 16) Adjusting entries are required 17) Accounts often need to be adjusted because 18) The preparation of adjusting entries is 19) Can financial statements be prepared directly from the adjusted trial balance? 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