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.

Question

Quizplus · Accepted Answer

Correcting entries can involve any combination of accounts that need correction, including both balance sheet accounts and income statement accounts. Therefore, option D is the correct answer.

Correcting Entries