Office Supplies Purchased in Bulk Are Initially Charged to an Asset

question 50

Multiple Choice

Office supplies purchased in bulk are initially charged to an asset account and are used on a daily basis.An expense will normally be recorded when:

• A)supplies are ordered.
• B)supplies are paid for.
• C)at the end of the accounting period when a balance day adjustment is prepared for supplies used.
• D)on a daily basis.

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