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In the current financial period, accrued expenses are recorded as $250 000 and the cash paid for expenses, as shown in the statement of cash
In the current financial period, accrued expenses are recorded as $250 000 and the cash paid for expenses, as shown in the statement of cash flows, is $180 000. This means that:
expenses may have been paid for in advance in the previous period. | ||
expenses may have been incurred in the current period and have not been paid by the end of the current period. | ||
depreciation may have been recorded in the statement of profit or loss. | ||
all of the options are correct |
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