Question
Communication (income statement): The balance of Interest Expense from accruing interest to be paid has what effect on the income statement in the current year?
Communication (income statement): The balance of Interest Expense from accruing interest to be paid has what effect on the income statement in the current year?
Multiple Choice
A. Decreases net income.
B. No effect.
C. Increases net income.
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GAO Financial Audit Manual Volume 3 June 2018
Authors: United States Government GAO
2018 Edition
979-8733166001
