Accounts Receivable is an asset account, while Accounts Payable is a liability account. 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. A) There are never enough accounts to record all the transactions. Management can't decide what they want to report. C) there are always errors made in recording transactions. Accounts often need to be adjusted because Select one: a. a. there are never enough accounts to record all the transactions. App interface: 9/10 The Quizlet Android App is well-designed and easy to use. These expenses are often recorded at the end of period because they are usually calculated on a period basis. 19) The adjusted trial balance is prepared after financial statements are prepared. d. There are always errors made in recording transactions. B) Many transactions affect more than one time period. Because I only made 10 terms, this test uses all 10 of them. Accounts often need to be adjusted because. 1 2 3. Thus, it is recorded at the end of the year. 2014-07-06 17:22:53 2014-07-06 17:22:53. … D) Management can't decide what they want to report. These two accounts are also never affected during the adjustment process. However, if you have a set with more terms, the question limit is ALWAYS preset to 20. only required for accounts that do not have a normal balance. Wiki User Answered . Top Answer. 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 … Cards are easy to view, with intuitive icons for navigation, study modes, audio, and card organization. Answer. Accounts often need to be adjusted because A) there are never enough accounts to record all the transactions. b. Accounts often need to be adjusted because? b. many transactions affect more than one time period. 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. Asked by Wiki User. D) management can't decide what they want to report. C) There are always errors made in recording transactions. 17) Accounts often need to be adjusted because A. 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? Accounts often need to be adjusted because? For example, depreciation is usually calculated on an annual basis. before the trial balance. 20) Financial statements are prepared directly from the A. the SEC is a private organization of accountants. This also relates to the matching principle where the assets are used during the year and written off after they are used. B. Many transactions affect more than one time period. c. There are never enough accounts to record all the transactions. straight forward because the accounts that need adjustment will be out of balance. d. management can't decide what they want to report So if you would like Quizlet to make you one test using all of your terms, just tell it to. B. C. D. there are never enough accounts to record all the transactions. optional when financial statements are prepared. Study modes: 7/10 The Quizlet App has basic study modes ranging from simple card review through matching games and various types of tests. B) many transactions affect more than one time period. c. there are always errors made in recording transactions. often an involved process requiring the skills of a professional. 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