Adjusting entries is Select one: A. the same as correcting entries. B. needed to update the financial statements directly. C. optional under generally accepted accounting principles. D. rarely needed in large companies. Adjusting entries is Select one: A. the same as correcting entries. B. needed to update the financial statements directly. C. optional under generally accepted accounting principles. D. rarely needed in large companies. Select one: A. the same as correcting entries. B. needed to update the financial statements directly. C. optional under generally accepted accounting principles. D. rarely needed in large companies. A. the same as correcting entries. B. needed to update the financial statements directly. C. optional under generally accepted accounting principles. D. rarely needed in large companies.