Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 17 - No. 24)
What effect does recording an accrued expense have on the balance sheet?
It increases both assets and liabilities.
It decreases both assets and liabilities.
It decreases assets and increases liabilities.
It increases liabilities and has no effect on assets.
Explanation
The accrued expense represents a liability, which increases liabilities.
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