Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 11 - No. 9)
What is the impact of an increase in accrued expenses on the financial statements?
Increase in expenses and a decrease in liabilities
Decrease in expenses and a decrease in liabilities
Increase in expenses and an increase in liabilities
Decrease in expenses and an increase in liabilities
Explanation
Accrued expenses increase expenses on the income statement and increase liabilities on the balance sheet.
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