Which of the Following Correctly Describes an Expense

question 88

Multiple Choice

Which of the following correctly describes an expense?

• A)An obligation of the entity.
• B)An investment the owners have made in the business.
• C)An economic resource that provides future benefits.
• D)An economic sacrifice made to earn revenue.

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Definitions:

Unintentional

Refers to actions or outcomes that occur without a deliberate plan or motive.

Trusted Network

A trusted network is a secure network segment in which all users and devices are considered secure and are given access privileges to resources.

Untrusted Network

A network that is not secure or controlled, where the confidentiality, integrity, and availability of the data cannot be assured.

Human Error

Human Error encompasses mistakes made by humans that can lead to deviations from intended operations or outcomes, often analyzed for system improvements.