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29 November, 08:07

The updating of accrual accounting records before preparing financial statements is referred to as the

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  1. 29 November, 09:22
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    The correct answer is:

    Adjustment process

    Explanation:

    The adjustment or updating process before preparing financial statements is composed by two different factors which are the income and expenses that need to be compared in order to present the final accounting report.

    In this report, it is primordial to consider or first compare the accrued expenses or accrued revenues.
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