An adjusting entry always affects selected answer b

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An adjusting entry always affects:Selected Answer: b. at least one income statement account and one balance sheet account.Answers: a. two different balance sheet accounts.b. at least one income statement account and one balance sheet account.c. two different income statement accounts.d. at least one asset account and one liability account.
Question 2 2 out of 2 points
The balance in Carlos Company's supplies account on December 31 is $3,000. If the supplies used during the year were $750, what is the entry to adjust the supplies account at the end of the year?
Question 3 2 out of 2 pointsThe accounting concept that supports reporting revenues in the period in which they are earned is called the:
Question 4 0 out of 2 pointsWhich of the following statements is NOT true about adjusting entries?
Question 5 0 out of 2 points

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