A correcting entry must involve one balance sheet account an

A correcting entry must involve one balance sheet account and one income statement account. is another name for a closing entry. may involve any combination of accounts. is a required step in the accounting cycle.

Solution

Answer is It may involve any combination of account.

Explanation:

For example, the rent paid $ 400 wrongly charged to wages account. In such case, the two accounts need to be corrected is Rent and wages account.