Which of the Following Transactions Results in the Recognition of an Expense

question 214

Multiple Choice

Which of the following transactions results in the recognition of an expense?

• A) Expiration of the usefulness of equipment during the accounting period
• B) Payment on an account payable
• C) Declaration and payment of a dividend
• D) Payment on the principal portion of a loan

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Definitions:

Resonance Structure

Different Lewis structures representing the same molecule that differ only in the positions of the electrons, not the positions of the atoms.

Organic Molecule

A molecule of the kind typically found in living systems, often containing carbon atoms bonded to hydrogen, oxygen, or nitrogen.

Resonance Forms

Different Lewis structures for a molecule that depict the same arrangement of atoms but differ in the distribution of electrons.

Hybrid

A concept that combines two different elements or types to create something with mixed characteristics, often seen in technology, biology, and vehicles.