A Company Incurred $2,000 for Utilities for the Last Month

question 132

Multiple Choice

A company incurred $2,000 for utilities for the last month of the year.The company has not paid this bill yet.Choose the TRUE statement.

• A)$2,000 should be reported on the income statement as Utilities Expense.
• B)Nothing should be reported about this in the current year's financial statements.
• C)$2,000 should be reported as Accounts receivable on the Balance Sheet at the end of the year.
• D)$2,000 should be reported as Utilities Expense on the Balance Sheet at the end of the year.

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Definitions:

Intoxicated Person

An individual who is under the influence of alcohol or other psychoactive substances, impairing cognitive and motor functions.

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A support group designed for the families and friends of individuals suffering from alcoholism, offering a community focused on sharing experiences and strategies for coping.

Alcoholics Anonymous

A self-help group and fellowship of individuals who share their experience, strength, and hope with each other that they may solve their common problem and help others to recover from alcoholism.