Complete the Following Table

question 22

Essay

Complete the following table:
$$\begin{array} { l | | c | c } \hline & \text { "ru!l! True } & \text { "ruul!" False } \\\hline \hline \text { Reject "rru!l!" } & & \\\hline \text { Retain "ruLl!" } & & \\\hline\end{array}$$

---

Definitions:

Supplies Expense

Supplies expense refers to the cost of consumable supplies used during an accounting period, recognized as an expense on the income statement.

Physical Count

The actual counting of inventory items, typically performed at the end of an accounting period to verify records.

Revenue Recognition Principle

A rule in accounting that outlines the exact circumstances in which income is considered as earned and documented.

Adjusted Trial Balance

A statement that lists all accounts and their balances after adjusting entries are made, ensuring the total debits equal total credits.