Accrued interest on a note payable would:
A) increase total liabilities.
B) increase owner's equity.
C) increase total assets.
D) None of these answers is correct.

Name: Accrued interest on a note payable would: A) increase total liabilities. B) increase owner's equity. C) increase total assets. D) None of these answers is correct.
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Question

Quizplus · Accepted Answer

Accrued interest on a note payable increases the total amount owed under the liability, thus increasing total liabilities.

Accrued Interest on a Note Payable Would