_____ is an example of an implicit transaction.
A)Paying wages which have been accrued
B)Accruing of interest expense
C)Returning defective inventory
D)Paying cash for three months' rent in advance

Question

Quizplus · Accepted Answer

Accruing of interest expense is an example of an implicit transaction because it does not involve a direct exchange of goods or services, but rather an obligation to pay at a later time based on an accrual accounting method.

_____ Is an Example of an Implicit Transaction