When an Item of Expense Is Paid and Recorded in Advance

question 24

Multiple Choice

When an item of expense is paid and recorded in advance, it is normally called a(n)

• A) prepaid expense.
• B) accrued expense.
• C) estimated expense.
• D) cash expense.

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Definitions:

Ethical Rules

Guidelines established by societies or organizations to dictate what behaviors are considered moral or right.

Animals

Living organisms that feed on organic matter, typically having specialized sense organs and nervous system and able to respond rapidly to stimuli.

Rational Autonomous Agent

An individual or entity capable of making their own choices based on reasoning and logic, independent of external control.

Ethical Decisions

Choices made based on moral principles and values, considering what is right and wrong.