How Can Accrual Adjustments for Interest Incurred but Not Yet

question 231

Multiple Choice

How can accrual adjustments for interest incurred but not yet paid affect the balance sheet and the income statement?

• A)Accrual adjustments can increase liabilities and increase expenses.
• B)Accrual adjustments can increase assets and decrease revenues.
• C)Accrual adjustments can decrease liabilities and increase revenues.
• D)Accrual adjustments can increase assets and increase expenses.

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