Your company pays expenses of $50,000 during the year and accrues expense of $5,000 at year end.what is your company's total expenses for the year?

a.$55,000 b. $50,000 c.$45,000 d.$5,000

Your company pays expenses of $50,000 during the year and accrues expense of $5,000 at year end.what is your company's total expenses for the year?

a.$55,000 b. $50,000 c.$45,000 d.$5,000

What is your answer

My answer is d. $5,000

My answer is d. $5,000

That is incorrect the expenses are the sum of what has been recorded plus outstanding accounts for expenses related to the period

It means option a.$55,000 is correct.

Thanks for your help.