If a Resource Has Been Consumed but a Bill Has

question 82

Multiple Choice

If a resource has been consumed but a bill has not been received at the end of the accounting period then

• A) an expense should be recorded when the bill is received.
• B) an expense should be recorded when the cash is paid out.
• C) an adjusting entry should be made recognizing the expense.
• D) it is optional whether to record the expense before the bill is received.

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Definitions:

Management

The process of dealing with or controlling things or people, often within organizations, involving planning, organizing, leading, and controlling resources.

Photocopy Machines

Devices designed to reproduce documents and images quickly and efficiently, using light and toner.

Influence Tactic

Strategies or methods used by individuals or groups to persuade or guide the behavior and attitudes of others.

Generic

Relating to or characteristic of a whole group or class; not brand-specific or patented.