Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 5 - No. 9)
What is the impact of accruing expenses on the financial statements?
Increase expenses and decrease liabilities.
Decrease expenses and decrease liabilities.
Increase expenses and increase liabilities.
Decrease expenses and increase liabilities.
Explanation
Accruing expenses increases the expenses reported on the income statement and increases the liabilities reported on the statement of financial position.
Comments (0)
