Which of the Following Entries Is NOT an Example of Asset

question 49

Short Answer

Which of the following entries is NOT an example of asset consumption,recognised over future time periods?
A. DR Salaries expense $\quad$ CR Cash

B. DR Depreciation expense $\quad$ CR Accumulated depreciation

C. DR Insurance expense $\quad$ CR Prepaid insurance

D. DR Cost of goods sold $\quad$ CR Inventory

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Definitions:

Personality Development

The gradual evolution of an individual's personality over time, influenced by a combination of genetic, social, and environmental factors.

Childhood

The period of life from birth to adolescence, characterized by growth, development, and learning in a young human being.

Adult

An individual who has reached maturity or the legal age of majority, typically characterized by completion of growth and development.

Puberty

The period during which adolescents reach sexual maturity and become capable of reproduction, characterized by physical and hormonal changes.