Select all that apply What is the effect of an accrued expense (such as...
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Accounting
Select all that apply
What is the effect of an accrued expense (such as salaries expense) adjustment on the income statement and the balance sheet? (Check all that apply.)
a) Total liabilities are reduced.
b) Net income is increased.
c) Net income is reduced.
d) Expenses are increased.
e) A liability (such as salaries payable) will be increased.
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