A. Adjustments would not be necessary if financial statements were prepared to reflect net income from lifetime operations.

B : Adjustments would not be necessary if financial statements were prepared to reflect net income from interim operations.

C : Adjustments would not be necessary if financial statements were prepared to reflect net income from fiscal year operations.

D : Adjustments would not be necessary if financial statements were prepared to reflect net income from monthly operations.

Question

Business

Maleah Rhodes

17 August, 07:58

A. Adjustments would not be necessary if financial statements were prepared to reflect net income from lifetime operations.

B : Adjustments would not be necessary if financial statements were prepared to reflect net income from interim operations.

C : Adjustments would not be necessary if financial statements were prepared to reflect net income from fiscal year operations.

D : Adjustments would not be necessary if financial statements were prepared to reflect net income from monthly operations.

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Answers (1)

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Hector Cortez · Answer 1

The correct answer is A

Explanation:

In accounting the adjustment, is described as the transaction of the business, which is not involved or recorded in the records of the accounting of the firm at a particular or a specific data.

All of the transactions are reported by the recordation and its example are customer billing, cash collection and supplier invoice.

If the operations of the lifetime are reflected from the net income, then the adjustments does not needed to passed or reported.