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  3. Study Set
    Fundamental Accounting Principles Study Set 5
  4. Exam
    Exam 3: Adjusting Accounts and Preparing Financial Statements
  5. Question
    Adjusting Entries
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Adjusting Entries

Question 86

Question 86

Multiple Choice

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.

Correct Answer:

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