Which one of the following is not a justification for adjusting entries?Group of answer choicesAdjusting entries are necessary to ensure that the revenue recognition principle is followed.Adjusting entries are necessary to ensure that the matching principle is followed.Adjusting entries are necessary to enable financial statements to conform with GAAP.Adjusting entries are necessary to bring the general ledger accounts in line with the budget.

The statement that is not a justification for adjusting entries is:

Adjusting entries are necessary to bring the general ledger accounts in line with the budget.

Here's why:

1. Adjusting entries are made at the end of an accounting period to correctly align the revenues and expenses to that period. They are not made to align the general ledger accounts with the budget.

2. The revenue recognition principle requires that revenues be recorded in the period in which they are earned, regardless of when payment is received. This often requires adjusting entries.

3. The matching principle requires that expenses be matched with the revenues they helped to generate. This also often requires adjusting entries.

4. Adjusting entries are necessary to ensure that financial statements conform with Generally Accepted Accounting Principles (GAAP), which require both the revenue recognition and matching principles to be followed.

5. However, the budget is a planning tool that estimates future revenues and expenses. It does not affect the actual recording of transactions in the general ledger. Therefore