Adjusting entries for expenses are required because: a. some expenses are not recorded as the...
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Accounting
Adjusting entries for expenses are required because:
a. some expenses are not recorded as the economic benefits expire over time such as depreciation and insurance.
b. some expenses are not recorded even though the economic benefit has already been used up such as electricity and telephone.
c. all the above explanations are correct.
d. some expenses are not recorded daily such as using up supplies and earning of wages.
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