When a Business Records an Expense Incurred, the Expense Account

question 101

True/False

When a business records an expense incurred, the Expense account is credited.

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Definitions:

Action Potential

A rapid and temporary electrical signal that travels along the membrane of a neuron, facilitating neurotransmission.

Impulse Control

The ability to resist or delay an impulse, drive, or temptation to act and is a component of self-regulation.

ADHD

Attention-deficit/hyperactivity disorder, a neurodevelopmental disorder characterized by above-normal levels of hyperactive and impulsive behaviors.

Preschool

An educational establishment aimed at children in the preschool age group, typically before they enter compulsory primary education, focusing on play-based learning and social skills.