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Adjusting entries for accrued expenses ensure that liabilities are reported for all amounts ______ at the end of the accounting period.

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Adjusting entries for accrued expenses ensure that liabilities are reported for all amounts owed at the end of the accounting period.

What are adjusting entries?

Adjusting entries are the end-of-the-year entries made to ensure that the income statement and balance sheet present the correct, up-to-date numbers.

Some of the adjusting entries include:

  • Accrued revenues
  • Accrued expenses
  • Deferred revenues
  • Prepaid expenses
  • Depreciation expenses.

Thus, Adjusting entries for accrued expenses ensure that liabilities are reported for all amounts owed at the end of the accounting period.

Learn more about Adjusting entries at https://brainly.com/question/13933471

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