Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 3 - No. 35)
What is the impact of accrued expenses on the statement of financial position?
Decreases assets and decreases liabilities.
Increases assets and increases liabilities.
Decreases assets and increases liabilities.
Increases liabilities.
Explanation
Accrued expenses increase liabilities on the balance sheet.
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