23. With accrued expenses, cash payment follows recording the expense. a. True b. False 24. What type of account is Deferred Commissions? b. asset c. liability d. revenue a. expense 25. Your company pays expenses of $50,000 during the year and accrues ex- of $5,000 at year end. What are your company's total expenses for penses the year? d. $5,000 c. $45,000 b. $50,000 a. $55,000 23. With accrued expenses, cash payment follows recording the expense. a. True b. False 24. What type of account is Deferred Commissions? b. asset c. liability d. revenue a. expense 25. Your company pays expenses of $50,000 during the year and accrues ex- of $5,000 at year end. What are your company's total expenses for penses the year? d. $5,000 c. $45,000 b. $50,000 a. $55,000