If a Resource Has Been Consumed but a Bill Has

question 74

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 adjustment should be made recognizing the expense.
• D)it is optional whether to record the expense before the bill is received.