An Expense

question 270

Multiple Choice

An expense

• A) decreases assets and liabilities.
• B) decreases stockholders' equity.
• C) leaves stockholders' equity unchanged.
• D) is basically the same as a liability.

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Definitions:

Legally Enter

The act of gaining access or entry to a property, system, or situation in accordance with the law and authorized permissions.

Contract

A contract is a legally binding agreement between two or more parties that outlines obligations each party must perform.

Indirectly

In a manner that is not straightforward or direct; happening through secondary or alternative means or effects.

Duties

Responsibilities or obligations that an individual, company, or government has under the law or contract.