Which general ledger account affects the most financial statement cycles?
A) cash account
B) retained earnings account
C) income tax expense and liability accounts
D) inventory account

Question

Quizplus · Accepted Answer

The cash account affects the most financial statement cycles because it is involved in nearly all types of transactions, including revenue, expense, assets, and liabilities transactions, impacting various financial statements such as the balance sheet, income statement, and cash flow statement.

Which General Ledger Account Affects the Most Financial Statement Cycles