Correcting Entries

question 49

Multiple Choice

Correcting entries

• A) always affect at least one balance sheet account and one income statement account.
• B) affect income statement accounts only.
• C) affect balance sheet accounts only.
• D) may involve any combination of accounts in need of correction.

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Definitions:

Data Tab

A section within software applications where users can access and manipulate data-related functions and settings.

Integer

A whole number that can be positive, negative, or zero.

Whole Numbers

A set of positive numbers that include zero and all the positive integers without fractions or decimals.

Less Than

A mathematical symbol (<) used to compare two values, indicating that the value on the left is smaller than the value on the right.