Asked by Jackie Fortner on Apr 26, 2024
Verified
Accrued expenses are ordinarily listed on the balance sheet as current assets.
Current Assets
Assets that a company expects to convert into cash, sell, or consume within one year or during its operating cycle, whichever is longer.
- Differentiate between current liabilities and various other liability categories.
Verified Answer
TS
Tonika SmithApr 27, 2024
Final Answer :
False
Explanation :
Accrued expenses are listed on the balance sheet as current liabilities, not assets. They represent expenses that have been incurred but not yet paid, and therefore represent a liability that must be settled in the future.
Learning Objectives
- Differentiate between current liabilities and various other liability categories.
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