Adjusting entries affect:
A)only balance sheet accounts.
B)only income statement accounts.
C)only statement of cash flow accounts.
D)both income statement and balance sheet accounts.

Name: Adjusting entries affect: A)only balance sheet accounts. B)only income statement accounts. C)only statement of cash flow accounts. D)both income statement and balance sheet accounts.
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Question

Quizplus · Accepted Answer

Adjusting entries always include one balance sheet account and one income statement account.

Adjusting Entries Affect