The correct answer is:

Current asset and current liability accounts.

Operating activities are the core business activities that generate revenue and expense, which are reflected in the income statement. Changes in current assets and current liabilities, such as accounts receivable, inventory, accounts payable, and accrued expenses, are also related to operating activities. These changes can be identified from the balance sheet. Changes in long-term liability, stockholders' equity, and long-term asset accounts are typically related to investing and financing activities, not operating activities.

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The correct answer is:

Current asset and current liability accounts.

Operating activities are the core business activities that generate revenue and expense, which are reflected in the income statement. Changes in current assets and current liabilities, such as accounts receivable, inventory, accounts payable, and accrued expenses, are also related to operating activities. These changes can be identified from the balance sheet. Changes in long-term liability, stockholders' equity, and long-term asset accounts are typically related to investing and financing activities, not operating activities.

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The correct answer is:

Current asset and current liability accounts.

Operating activities are the core business activities that generate revenue and expense, which are reflected in the income statement. Changes in current assets and current liabilities, such as accounts receivable, inventory, accounts payable, and accrued expenses, are also related to operating activities. These changes can be identified from the balance sheet. Changes in long-term liability, stockholders' equity, and long-term asset accounts are typically related to investing and financing activities, not operating activities.

MC Qu. 21 (LO11-3) We can identify operating... We can identify operating activities from income statement information and changes in: Multiple Choice Long-term liability accounts. Stockholders’ equity accounts. Current asset and current liability accounts. Long-term asset accounts.

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