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