MC Qu$.7-16$ Many current liabilities are affected by$...$Many current liabilities are affected by accrual accounting entries. This happens because:Multiple Choiceliabilities are usually paid when they are incurred.accrual accounting involves recognizing liabilities when expenses have been incurred but not yet paid.the only way to reduce a liability account balance is with an adjusting entry.accrual accounting frequently involves recognizing liabilities before they are incurred.