Which of the Following Is an Expense of This Period

question 49

Multiple Choice

Which of the following is an expense of this period?

• A)Costs of items used up this period but paid for next period
• B)Costs of items paid for in this period but used up next period
• C)Cost of land purchased and paid for this period
• D)Repayment of debt from a loan in a prior period

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Definitions:

Computers

Electronic devices that execute commands from software to perform a wide range of functions, from basic calculations to complex data processing.

Ordinary Care

The level of care that a reasonably prudent person would exercise in similar circumstances; a standard for negligence determination.

Reasonable Care

The degree of caution and concern an ordinarily prudent person would use in similar circumstances, often used as a standard for determining negligence.

Good Faith

An honest intention to act without taking an unfair advantage over another party.