Using Cash to Purchase Office Supplies Which Will Be Consumed

question 93

True/False

Using cash to purchase office supplies which will be consumed later results in an increase in expenses and a decrease in assets as of the time of purchase.

---

Definitions:

Tradition

The transmission of customs or beliefs from generation to generation, or the fact of being passed on in this way.

Status Obligations

Responsibilities or behaviors expected from an individual based on their social, professional, or familial position.

Enculturation

The process of transmitting a group’s culture from one generation to the next.

Ethnocentrism

Belief that your cultural traditions and assumptions are superior to those of others.