Which of the Following Is NOT a Proper Method of Recognizing

question 123

Multiple Choice

Which of the following is NOT a proper method of recognizing assets as expenses in a particular accounting period?

• A) Customers' account balances in accounts receivable are assigned to expense in the period in which each customer pays.
• B) Prepaid insurance is assigned to expense as the insurance expires.
• C) A building is depreciated and its cost is assigned to the current and future accounting periods in which the building is expected to be used.
• D) Merchandise inventory is assigned to cost of goods sold in the period the goods are sold.

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