The payment of utilities expense in cash would affect the operating activities in the statement of cash flows and the income statement but NOT the balance sheet.

Name: The payment of utilities expense in cash would affect the operating activities in the statement of cash flows and the income statement but NOT the balance sheet.
Brand: Quizplus
Rating: 4.9 (39 reviews)

Question

Quizplus · Accepted Answer

The payment of utilities expense in cash affects the balance sheet by reducing cash and increasing expenses, which decreases equity.

The Payment of Utilities Expense in Cash Would Affect the Operating