Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 19 - No. 29)
What is the effect of the 'accrued expense' entry in the general ledger?
Increase cash and increase liabilities.
Increase expenses and increase liabilities.
Decrease assets and decrease liabilities.
Increase assets and increase equity.
Explanation
Accrued expenses will increase an expense and also increase the liability.
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