The Asset Account,Office Supplies Had a Beginning Balance of $5,400

question 140

Multiple Choice

The asset account,Office Supplies had a beginning balance of $5,400.During the accounting period,office supplies were purchased,on account,for $5,400.A physical count,on the last day of the accounting period,shows $2,300 of office supplies on hand.What is the amount of Supplies Expense for the accounting period?

• A)$5,400
• B)$2,300
• C)$8,500
• D)$3,100

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Definitions:

Rounded

The process of approximating a number to a specified degree of precision, often to the nearest whole number.

Rounding Rules

Guidelines used in mathematics and statistics for reducing the number of digits in a numeric value according to certain criteria, typically to make the value simpler or more intuitive.

Rounded

The process of adjusting numerical values to a specified degree of accuracy, typically to make them simpler or more manageable.

Rounded

A numerical value that has been adjusted to a less precise form, often to make it simpler or easier to communicate.