Which of the Following Statements Relating to Balance Day Adjustments

question 31

Multiple Choice

Which of the following statements relating to balance day adjustments is correct?

• A) They affect either the income statement or the balance sheet.
• B) They only affect the income statement.
• C) They always affect the cash/bank account.
• D) They have at least one effect on the income statement and one effect on the balance sheet.

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Definitions:

Evolutionary Theory

A scientific theory that proposes species change over time through processes like natural selection and genetic drift, explaining the diversity of life on Earth.

Biologically Based Drives

Innate urges stemming from biological needs, such as hunger, thirst, and the desire for sexual activity.

Longitudinal Research

A research design that involves repeated observations of the same variables (e.g., people) over short or long periods of time.

Cross-Sectional Research

A research design in which data is collected from a population, or a representative subset, at one specific point in time to examine a phenomenon.