Accruing a liability always involves ________ expenses and ________ liabilities.
A)increasing;increasing
B)increasing;decreasing
C)decreasing;increasing
D)decreasing;decreasing

Question

Quizplus · Accepted Answer

Since these types of entries relate to an expense that has been incurred but not paid,the related entries increase "Payable" accounts (liabilities)and increase the related expense accounts.

Accruing a Liability Always Involves ________ Expenses and ________ Liabilities

Accruing a Liability Always Involves Expenses and Liabilities