An Expense Incurred in 2013 Is Not Paid Until 2014

question 24

Multiple Choice

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

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

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Definitions:

Uterus

A female reproductive organ where the fetus develops during pregnancy.

Urethrotrigonitis

An inflammation of the urethra and the trigone area of the bladder, often causing urinary discomfort.

Code Assigned

Refers to a specific identifier given to medical conditions, procedures, or diagnoses in healthcare documentation.

Patient

An individual who is receiving medical care or treatment.