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Adjusting entries are made after the preparation of financial statements ​t/f

1 Answer

4 votes

Hi there,

Glad to be helpful.

Adjusting entries are actually what go into the books. They are similar to journal entries, but are plugged into the general ledger. Therefore, it is impossible that they go before the financial statements which are the balance sheet, income statement, etc - those are entirely dependent on the general ledgers and adjusting entries.

Therefore,

FALSE!

User James Dinsdale
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