An Expense Occurred in 2013,but It Is Not Paid Until

question 20

Multiple Choice

An expense occurred in 2013,but it is not paid until 2014.Using the accrual basis of accounting,the expense should appear on:

• A)the 2013 income statement.
• B)the 2014 income statement.
• C)neither the 2013 nor the 2014 income statement.
• D)both the 2013 and 2014 income statements.

Analyze the effectiveness of different communication methods in organizational settings.

Develop awareness of the role of context and environment in shaping communication.

Learn about various types of organizational documents and their purposes.

Appreciate the significance of communication competence in professional and personal development.

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Definitions:

Elastic

A term used in economics to describe a situation where the quantity demanded or supplied of a good is sensitive to changes in its price.

Price Elasticity

An indicator showing the demand for a good's responsiveness to its price alterations.

Consumer Purchases

Transactions in which individuals buy goods or services for personal use or consumption.

Elastic Demand

A market condition where the quantity demanded of a good or service significantly changes in response to changes in its price.