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

question 12

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 prepaid expenses 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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