What is the result of an increase in accounts payable during a period?
- Expenses on an accrual basis are greater than expenses on a cash basis.
- Revenues on an accrual basis are less than revenues on a cash basis.
- Expenses on an accrual basis are the same as expenses on a cash basis.
- Expenses on an accrual basis are less than expenses on a cash basis.
The result of an increase in accounts payable during a period is that expenses on an accrual basis are greater than expenses on a cash basis.