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Question 11: ABC LTD has a year end of 30 June 2016. Which of the following transactions and events should give rise to accrued expense
Question 11: ABC LTD has a year end of 30 June 2016. Which of the following transactions and events should give rise to accrued expense in ABC LTD's financial statement? .
- a)ABC LTD receives rent income in advance. Rent for the first quarter of 2016 is due on 31st December 2011.
- b)ABC LTD pays salary to its employees on 25th of every month.
- c)XYZ LTD provides janitorial services to ABC LTD. The related expense for the month of June
- 2016 had not been recorded in the financial statements as the related invoice was received in July 2016.
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