Examlex
Choose the INCORRECT statement.
Increase Liabilities
The process or action that results in a higher amount of obligations or debts owed by an entity to others.
Decrease Net Income
Refers to a reduction in the net earnings as reported on an entity's income statement, influenced by costs, expenses, or losses.
Accrual
The accounting method that recognizes revenues and expenses when they are incurred, regardless of when cash transactions occur.
Wages Expense
The total cost incurred by a company for the salaries or wages of its employees.
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