Which of the Following Is not True for an Operating

question 77

Multiple Choice

Which of the following is not true for an operating expenditure?

• A)It is recorded with a debit to a statement of financial position account.
• B)It benefits the current period only.
• C)It is incurred to maintain an asset in its normal operating condition.
• D)It often recurs.

Analyze real-life data to calculate probabilities for given events.

Evaluate different approaches to probability to determine the most appropriate for a given scenario.

Understand the components and characteristics of motivation such as direction, activation, and persistence.

Identify different approaches to the study of motivation, including cognitive, mechanistic, internal, and nomothetic approaches.

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Definitions:

Income Taxes Payable

The sum of income tax that a company is liable to the government but remains unpaid.

Income Tax Expense

The total amount of income tax that a company expects to pay in a given fiscal period, appearing on the income statement.

Contra-Asset Account

A contra-asset account is an account used in the financial accounting to offset against an asset account on the balance sheet.

Accounts Receivable

This refers to the money owed to a company by its customers for goods or services delivered or used but not yet paid for.