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

question 154

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)Withdrawal of cash by the owner.
• D)Payment on the principal portion of a loan.

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Definitions:

Altruism

Selfless concern for the well-being of others, where individuals may act to benefit others even at a cost to themselves.

Kin Selection Theory

A theory in evolutionary biology that predicts organisms will behave altruistically towards their relatives to increase the chances of their genetic traits being passed on to future generations.

Cooperative Hunting

The action of different individuals or species working together to hunt prey, increasing their success rate compared to solo efforts.

Altruism

Behavior of an individual that benefits another at its own cost; in biology, it is often discussed in the context of evolutionary theory and social animals.