If an Argument Is Valid, Then

question 47

Multiple Choice

If an argument is valid, then

• A) the argument is sound.
• B) the argument's conclusion must be true.
• C) the argument's premises are true.
• D) its conclusion must be true, if its premises are.

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Definitions:

Supplies Expense

An account that represents the cost of supplies used during an accounting period, which are not held for resale.

Adjusting Journal Entry

An adjusting journal entry is made in the accounting records at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.

Long-Lived Assets

Long-lived assets are tangible or intangible assets that a company holds for use over several years, such as buildings, machinery, or patents.

Prepayment

Payment made for goods or services before they have been received or provided, often resulting in a current asset on the balance sheet.