Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 15 - No. 47)
What is the effect on the balance sheet when adjusting for accrued expenses?
Increase assets, decrease liabilities.
Decrease assets, increase liabilities.
Increase assets, increase liabilities.
No effect.
Explanation
Accrued expenses increase liabilities and decrease the company's equity.
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