Recognizing an expense may be accompanied by which of the following?
A)An increase in liabilities
B)A decrease in liabilities
C)A decrease in revenue
D)An increase in assets

Question

Quizplus · Accepted Answer

Recognizing an expense may be accompanied by an increase in liabilities (i.e.accounts payable,salaries payable)or a decrease in assets (i.e.cash,prepaid rent or insurance).

Recognizing an Expense May Be Accompanied by Which of the Following