Final answer:
The two aging options available for aging reports are Prior Period, which shows data from a past accounting period, and Current, which focuses on the current period's standing. Option D
Step-by-step explanation:
The question refers to the aging options available for aging reports in accounting. Aging reports are used by businesses to determine the financial health regarding receivables or payables and to manage cash flows efficiently. The two correct aging options available for aging reports are:
Prior Period - This option focuses on amounts that are outstanding or overdue from a previous accounting period. It categorizes receivables or payables based on the length of time they have been outstanding.
Current - This option emphasizes on the current status of accounts. It analyzes the accounts based on the current accounting period without considering the past periods.
Therefore, the correct answer to the student's question is D. Prior Period and Current.