When an Asset Expires or Is Used Up, It Becomes

question 89

True/False

When an asset expires or is used up, it becomes an expense.

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Definitions:

Process

A series of actions or steps taken in order to achieve a particular end.

Resource Inputs

Resources or materials used in the production of goods and services.

Organizational Outputs

The results, products, or services generated by an organization through its operations and activities.

Technology

The application of scientific knowledge for practical purposes, especially in industry, through the creation and use of technical means and their interrelation with life, society, and the environment.