Why are adjusting entries necessary? To update accounts due to resources used, amounts expired due...
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Accounting
Why are adjusting entries necessary? To update accounts due to resources used, amounts expired due to the passage of time, or amounts that may need to be recorded To update amounts in retained earnings for activity that occurred during the period To remove the balances of temporary accounts so that financial statements can be prepared To correct errors due to erroneous recording of journal entries 
Why are adjusting entries necessary?
To update accounts due to resources used, amounts expired due to the passage of time, or amounts that may need to be
recorded
To update amounts in retained earnings for activity that occurred during the period
To remove the balances of temporary accounts so that financial statements can be prepared
To correct errors due to erroneous recording of journal entries
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