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Question
Which of the following accounts is used to record an accrual for expenses?
Which of the following accounts is used to record an accrual for expenses?
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Solution
The correct option is D Interest payable.
Answer d. Interest payable
Explanation: Interest payable is a liability in accounting terms; it is displayed on an organisation’s asset report or balance sheet. The fiscal summaries are critical to both monetary demonstrating and bookkeeping. To put it plainly, it addresses the measure of interest presently owed to banks.
Interest payable.
Answer d. Interest payable
Explanation: Interest payable is a liability in accounting terms; it is displayed on an organisation’s asset report or balance sheet. The fiscal summaries are critical to both monetary demonstrating and bookkeeping. To put it plainly, it addresses the measure of interest presently owed to banks.
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