Adjusting entries:
a. Affect only income statement accounts.
b. Affect only balance sheet accounts.
c. Affect both income statement and balance sheet accounts.
d. Affect only cash flow statement accounts.
e. Affect only equity accounts.
Answer: C
Adjusting entries:
a. Affect only income statement accounts.
b. Affect only balance sheet accounts.
c. Affect both income statement and balance sheet accounts.
d. Affect only cash flow statement accounts.
e. Affect only equity accounts.
Answer: C
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.