拜託會計達人幫忙,about Financial accounting Adjusting

The answer should be false.

At the end of accounting period, there are prepayment or accrued expenses. These items are expenses accounts in profit and loss account. In return, it should be effect the assets (prepayment) and liabilities ( accrued charges)in balance sheet.

You may have to seggregate the credit balance in Bank Account as Bank Overdraft. Debit balances in Creditors to Debtors and some reclassification with no journal entreis required e.g. amout due to directors to be separately shown as directors' current account instead of under sundry creditors.

b false
P and L item adjusted
normal is expensive
you know the double entry iof year end more likely with prepaid and accrued that is balance item.

Therefore, assets and liability must be effect under adjustment