If the effect of an adjustment is to increase the balance of a liability account, which of the… 1 answer below »

1. Identify the four different categories of adjustments frequently required at the end of an accounting period.

2. If the effect of an adjustment is to increase the balance of a liability account, which of the following statements describes the effect of the adjustment on the other account?

a. Increases the balance of a revenue account.

b. Increases the balance of an expense account.

c. Increases the balance of an asset account.

"Is this question part of your assignment? We can help"

ORDER NOW