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Expense accounts for accounting period

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1. Expenses are normally accrued at the end of the accounting period by a small business that follows the cash method of accounting. (True/False)
2. List two expense accounts that are usually accrued at the end of an accounting period.
3. Name the document that is usually completed before a purchase order is executed.
4. Which assertion is of primary importance to the auditor in auditing accounts payable? Why?

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Expense accounts for accounting period are determined.

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1) False - Expenses are normally accrued at the end of the accounting period by a small business that follows the ...

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