Depreciation Expense Is an Example of an Accrued Expense

question 30

True/False

Depreciation expense is an example of an accrued expense.

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Definitions:

Mutual Agency

A principle in partnerships where each partner has the power to bind the entire partnership to a contract or agreement.

Limited Liability

A principle where a company's shareholders are legally responsible for its debts only to the extent of the amount of capital they invested.

Capital Contributions

Funds or assets provided by owners or investors to increase a company's capital.

Capital Account

An account on a nation's balance of payments that records transactions involving the acquisition or disposal of assets.