Every Adjusting Journal Entry Will Affect One Balance Sheet Account

question 106

True/False

Every adjusting journal entry will affect one balance sheet account and one income statement account.

---

Definitions:

Merge

The combination of two or more entities into one, through either the acquisition or the pooling of interests.

Dynamic Capabilities

The ability to adapt and renew competencies in accordance with changing business environment.

Renew Competencies

Refers to the process of updating and refreshing the skills, knowledge, and capabilities that are essential for individuals or organizations to remain competitive and proficient in their fields.

Business Environment

The combination of all external and internal factors that influence the operations, opportunities, and threats to an organization.