šŸ“¢ Too many exams? Don’t know which one suits you best? Book Your Free Expert šŸ‘‰ call Now!


    Question

    Interest payable on the bondsĀ is a/an

    _________
    A Provision Correct Answer Incorrect Answer
    B Accrued expense Correct Answer Incorrect Answer
    C Accrued income Correct Answer Incorrect Answer
    D Prepaid expense Correct Answer Incorrect Answer
    E advance income Correct Answer Incorrect Answer

    Solution

    Ā An accrued expense is one that is known to be due in the future with certainty. Interest payable on the bondsĀ is a known figure. It can be estimated well ahead of time, and money can be set aside for it.Ā 

    Practice Next
    ask-question