Which of the following statements describe the purpose of passing adjustment entries? (i) To ensure that all expenses incurred in the accounting period, whether paid or not, are considered in the Trading and Profit and Loss Account. (ii) To ensure that all incomes earned in the accounting period, whether received or not, are considered in the Trading and Profit and Loss Account. (iii) To close all nominal accounts and transfer their balances to the Trading and Profit and Loss Account. (iv) To ensure that the financial statements disclose the true profit or loss of the business for the accounting year and the true position of assets and liabilities at the end of the accounting year.