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Which of the following statements about accrual and deferral errors is correct? Accrual errors affect only balance sheet accounts. Deferral errors affect only income statement

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Which of the following statements about accrual and deferral errors is correct? Accrual errors affect only balance sheet accounts. Deferral errors affect only income statement accounts. Accrual and deferral errors affect both income statement and balance sheet accounts. All above statements are correct

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