Every adjustment affects which of the following accounts on the balance sheet?
A) revenue or liability accounts
B) revenue or expense accounts
C) asset or expense accounts
D) asset or liability accounts

Question

Quizplus · Accepted Answer

Adjustments typically affect asset or liability accounts on the balance sheet, as they are made to ensure that the financial statements reflect the true financial position of the company at the end of the accounting period.

Every Adjustment Affects Which of the Following Accounts on the Balance