Which balance sheet accounts are affected by operating activities?
A) current assets and current liabilities.
B) current assets and long-term assets.
C) long-term assets and current liabilities.
D) long-term liabilities and stockholders' equity.

Question

Quizplus · Accepted Answer

Operating activities generally affect current assets and current liabilities, such as accounts receivable, accounts payable, and inventory. Long-term assets and liabilities are typically not directly affected by day-to-day operating activities.

Which Balance Sheet Accounts Are Affected by Operating Activities