What are the adjusting entries

Assignment Help Management Theories

Reference no: EM131900766

Question: Would you please adress these three questions from your own wrods.

1. Why are revenue and expense accounts called temporary or nominal accounts?

2. Is it necessary that a trial balance be taken periodically? What purpose does it serve?

3. What are adjusting entries and why are they necessary?

Reference no: EM131900766

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