Which of the Following Statements Best Describes Expenses

question 68

Multiple Choice

Which of the following statements best describes expenses?

• A)They are recorded in the accounting period when they are "earned" and become "measurable."
• B)They consist of amounts paid for consumable items and services rendered to the organization during the accounting period.
• C)They are the expired costs or assets "used up" during the accounting period.
• D)They consist of cash payments to employees during the period for services rendereD.

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Definitions:

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The benefit or positive reputation gained by a company through charitable acts, contributions, and involvement in the community.

Social Responsibility Pyramid

A model describing the layers of responsibility that companies have, ranging from economic, legal, ethical, to philanthropic duties.