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Q: What is the term for the final check that all the work of adjusting and closing the accounting records has been completed accurately and that the General Ledger is in balance?
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What is an adjusting entry?

journal entries recorded to update general ledger accounts at the end of a fiscal period. it is made to prevent or correct errors that may happen in the system. To see how to make an adjusting entry, visit: http://www.accounting7.com/content/exercise-adjusting-account-entries-accounting


What is the function of general accounting in accounting?

to be General


When was US General Accounting Office Building created?

US General Accounting Office Building was created in 1951.


What is the correct sequence of the accounting cycle?

This is the formal sequence of steps in the accounting cycle:journalisation i.e. recording transactions into the general journalposting these transactions to the general ledgers.summarise these transactions into the trial balancepass adjusting entries (bad debts, accruals and prepayments and depreciation)prepare adjusted trial balancemake income statement (statement of comprehensive income)write balance sheet (statement of financial position)


Who formulated the General accepted accounting principles?

Financial Accounting Standards Board


What The general accounting office assist congress in its oversight function by?

The General Accounting Office (GAO) assists Congress in its oversight function by __________.


What are the types of journal entry?

1 - General journal entry2 - Adjusting journal entry3 - Month end adjusting entry


What is the End product of financial accounting?

Financial Accounting is concerned with preparation of Financial Statements that would serve the interests of Investors, Banks, Creditors, and general public at large. The aim of Financial Accounting is to facilitate Financial Decision Making based on Accurately Gathered Significant financial Information pertaining to the Performance of the Organization and also giving information about the Current position of the Organization's Assets and Liabilities.


What is the end product of accounting?

Financial Accounting is concerned with preparation of Financial Statements that would serve the interests of Investors, Banks, Creditors, and general public at large. The aim of Financial Accounting is to facilitate Financial Decision Making based on Accurately Gathered Significant financial Information pertaining to the Performance of the Organization and also giving information about the Current position of the Organization's Assets and Liabilities.


What do you understand accounting principals discuss the nature and significance of accounting principles?

They are set of accepted accounting standards and general rules.


Is the cost accountant under the general accountant?

Cost accountant is part of Management Accounting. General Accountants are are mostly relevant to Financial Accounting


What is the GAO?

General Accounting Office(GAO)