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Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372 Exercise 52
Which of the following best describes Accrued Liabilities
A) Long-term liabilities.
B) Current amounts owed to suppliers of inventory.
C) Expenses incurred, but not paid at the end of the accounting period.
D) Revenues that have been collected, but not earned.
A) Long-term liabilities.
B) Current amounts owed to suppliers of inventory.
C) Expenses incurred, but not paid at the end of the accounting period.
D) Revenues that have been collected, but not earned.
Explanation
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The correct option is option (c) expense...
Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
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