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.

After graduation many students' demand for used cars decreases.This may be because used cars are considered a normal good to college graduates.

The federal Truth-in-Lending law:

A) requires the lender to show how much profit is made on a particular sale.
B) regulates the maximum cost of credit.
C) is a uniform law, like the UCC, made available to all states.
D) is intended to allow comparison of various credit offers or advertisements.