An entry for depreciation has what effect on the financial statements:
a) increases assets and decreases liabilities.
b) decreases net income and increases assets.
c) increases expenses and decreases assets
d) decreeases assets and increases liabilities
The primary difference between deferred and accrued expenses is that accrued expenses :
a) have been paid but deferred expenses havn't
b) have not been paid but deffered expenses have
c) involve assets instead of liabilites
An entry for depreciation has what effect on the financail ...
This tells the difference between deferred and accrued expenses