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It’s the end of the accounting period, and no electric bill has been received (but the expense has been incurred); you should record an entry that
A. increases the total assets and increases the total expenses.
B. decreases the total assets and increases the total expenses.
C. increases the total liabilities and increases the total expenses.
D. decreases the total liabilities and increases the total expenses.

Verified Answer :

C. increases the total liabilities and increases the total expenses.

kapoorprachi783

Increases the total liabilities and increases the total expenses.

The answer is option B.

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