Business, 18.03.2020 21:37, madisonsolis05

If a business closes its accounts only at year-end

a. Monthly and quarterly financial statements cannot be prepared.

b. Adjusting entries are made only at year-end.

c. Financial statements are prepared only at year-end.

d. Revenue and expense accounts reflect year-to-date amounts throughout the year.

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If a business closes its accounts only at year-end

a. Monthly and quarterly financial s...