Most Accounting Policy Choices Affect Both the Income Statement and the Balance

question 20

Multiple Choice

Most accounting policy choices affect both the income statement and the balance sheet.Select the income statement account(s) that would be affected by a policy choice at the same time as the inventory balance sheet account.

• A) revenue,bad debts expense
• B) cost of goods sold expense
• C) depreciation or amortisation expense
• D) various expense accounts.

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Definitions:

Post-Traumatic Stress Disorder

A mental health condition triggered by experiencing or witnessing a terrifying event, leading to symptoms such as flashbacks, nightmares, and severe anxiety.

Rational Emotive Behavior Therapy

A type of psychotherapy that helps individuals identify irrational beliefs and negative thought patterns that may lead to emotional or behavioral issues.

Modeling

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