Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 47 - No. 43)
When a business makes an accrual, which financial statement accounts are impacted?
Only the balance sheet accounts.
Only the income statement accounts.
Both the balance sheet and income statement accounts.
Neither the balance sheet nor the income statement accounts.
Explanation
Accruals affect both the income statement (expenses) and the balance sheet (liabilities).
Comments (0)
