Adjusting entries, closing entries, and reversing entries are all done at the end of the accounting period.Select one:TrueFalse

The statement "Adjusting entries, closing entries, and reversing entries are all done at the end of the accounting period" is True.

Explanation:

1. Adjusting Entries: These are made at the end of an accounting period to update account balances before financial statements are prepared.
2. Closing Entries: These are made at the end of the accounting period to transfer temporary account balances to permanent accounts, effectively resetting the temporary accounts for the next period.
3. Reversing Entries: These are often made at the beginning of the new accounting period to simplify the recording of transactions that were accrued or deferred in the previous period.

Thus, all these entries take place around the conclusion of an accounting cycle.