When Existing Assets Are Used Up in the Ordinary Course

question 130

Multiple Choice

When existing assets are used up in the ordinary course of business:

• A) an expense is recorded.
• B) unearned revenue is recorded.
• C) an accrual is recorded.
• D) a prepaid expense is recorded.

---

Definitions:

HTTP

HyperText Transfer Protocol, the foundational protocol used for transmitting web pages over the internet.

IP Address

Short for Internet Protocol Address, it's a unique address that identifies a device on the internet or a local network, allowing for data exchange.

Static

Unchanging; not dynamic. In programming, it refers to variables or methods belonging to the class itself rather than any instance of the class.

Unique Number

A numeral identifier assigned to uniquely identify an entity within a specific context or system.