Which statement is false?

a. Most companies typically do not have to prepare the adjusting journal entries.
b. Periodically, certain adjustments that are not daily business activities must be made to the accounts to update the balances.
c. The adjusted balances are used to prepare the financial statements. These adjusting journal entries must always be made on the date the financial statements are prepared, but they can be recorded more often.
d. The adjustments, called adjusting journal entries, are always recorded in the general journal. They are then posted to the general ledger to update the balances in the accounts.