Final answer:
The statement is false; adjusting entries are recorded in the general journal and must be posted to the general ledger to ensure accurate financial statements.
Step-by-step explanation:
The statement that adjusting entries are recorded in the general journal but are not posted to the accounts in the general ledger is false. Adjusting entries, which are made at the end of an accounting period, ensure that all revenues and expenses are recorded in the period to which they relate. These entries are indeed initially recorded in the general journal; however, to be effective, they must be posted to the ledger accounts.
The general ledger is like the master set of accounts that summarizes all transactions occurring within an entity. Therefore, if adjusting entries are not posted to the ledger accounts, the financial statements based on these ledgers will be incorrect and will not provide an accurate picture of the company's financial position and performance.