Question
Asked By SereneWanderer85 at
Answered By Expert
Duncan
Expert · 2.1k answers · 2k people helped
Step 1/1
Answer: 1st Option) increasing; increasing
Accruing a liability always involves increasing expenses and increasing liabilities.
Explanation:
for accrual of liability we debit expense account (expenses increase on debit) and credit a liability (liabilities increase on credit)
Final Answer
Accruing a liability always involves increasing expenses and increasing liabilities.
🧑🏫 More Questions
👉 Interested in exploring further?
Chrome Extension
1. Search answers from our 90+ million questions database.
2. Get instantly AI Solutions powered by most advanced models like GPT-4, Bard, Math GPT, etc.
3. Enjoy one-stop access to millions of textbook solutions.
4. Chat with 50+ AI study mates to get personalized course studies.
5. Ask your questions simply with texts or screenshots everywhere.