The preparation of adjusting entries is an application of the ___ concept of accounting.

Money Measurement

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Business Entity

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Accrual

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Going Concern

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C
Accrual

The preparation of adjusting entries is an application of the accrual concept of accounting.

Suggest Corrections

Similar questions

Why is it necessary for accountants to assume that business entity will remain a going concern?

Why it is necessary for accountants to assume that a business entity will remain a going concern?

Join BYJU'S Learning Program