Which of these accounts would normally be affected by an adjustment?
A)Notes Payable.
B)Equipment.
C)Cash.
D)Deferred Revenue.

Question

Quizplus · Accepted Answer

Adjusting entries always include one balance sheet (asset or liability)account and one income statement (revenue or expense)account.Adjusting entries never involve the Cash account.Transactions affecting the Cash account are recorded as regular journal entries.Adjusting entries do not impact the Notes Payable and Equipment accounts directly;Accumulated Depreciation account is used to record Depreciation Expense.

Which of These Accounts Would Normally Be Affected by an Adjustment