Unexpired Costs Are Considered to Be

question 146

Multiple Choice

Unexpired costs are considered to be:

• A) assets
• B) expenses, whether or not cash has been paid
• C) expenses, if cash has been paid
• D) adjusted expenses

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Definitions:

Specific Payee

The designated individual or entity to whom a particular payment is directed or made.

Definite Time

A specific, clearly identified period or moment when something occurs or is scheduled to happen.

Drawer And Drawee

Terms in check transactions where the drawer is the party that writes the check, and the drawee is the bank that is requested to pay the amount.

Functions

Refers to the roles, activities, or duties that are intended or expected to be performed by a person, system, or object.