an accrual - adjusted income statement uses information from: the income statement only the balance sheet…

an accrual - adjusted income statement uses information from: the income statement only the balance sheet only both the income statement and balance sheet neither the income statement nor balance sheet

an accrual - adjusted income statement uses information from: the income statement only the balance sheet only both the income statement and balance sheet neither the income statement nor balance sheet

Answer

Brief Explanations:

An accrual - adjusted income statement requires information about revenues and expenses (from the income statement) as well as information about assets and liabilities (from the balance sheet) to properly account for accruals. For example, accounts receivable and accounts payable from the balance sheet impact revenue and expense recognition on the income - statement under accrual accounting.

Answer:

C. both the income statement and balance sheet