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

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).

The Recognition of an Expense May Be Accompanied by Which