What effect will this adjustment have on the accounting records?
A)increase net income
B)increase revenues reported for the period
C)decrease liabilities
D)All of these choices

Question

What effect will this adjustment have on the accounting records? 
A)increase net income 
B)increase revenues reported for the period 
C)decrease liabilities 
D)All of these choices

Quizplus · Accepted Answer

Adjustments affect various accounts in the accounting records, including net income, revenues, and liabilities. Therefore, making an adjustment will result in an increase in net income, an increase in revenues reported for the period, and a decrease in liabilities. Thus, all of these options are correct.

What Effect Will This Adjustment Have on the Accounting Records