Which of the Following Is a TRUE Statement Regarding Expenses

question 204

Multiple Choice

Which of the following is a TRUE statement regarding expenses?

• A)Expenses represent future benefit to the company.
• B)The expense recognition principle recognizes revenue in the same period in which the related revenues are earned.
• C)Expenses will never result in the creation of a liability account.
• D)The critical event for recording salary expense is the payment of cash.

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Definitions:

Structure

The arrangement and relations between parts or elements of something complex, often used to describe the molecular arrangement in chemistry.

Fluorobenzene

A halogenated benzene derivative with a chemical formula C6H5F, often utilized as an intermediate in organic synthesis.

Benzene

A cyclic hydrocarbon with the formula C6H6, recognized for its aromatic properties and widespread use as a starting point in the manufacture of numerous chemicals.

3-bromotoluene

3-bromotoluene is a brominated aromatic compound with a bromine atom attached to the third position of a toluene molecule.