An Expense Occurred in 2018,and It Is Not Paid Until

question 99

Multiple Choice

An expense occurred in 2018,and it is not paid until 2019.Using cash-basis accounting,the expense should appear on:

• A)the 2018 income statement.
• B)the 2019 income statement.
• C)whichever income statement the business prefers.
• D)both the 2018 and 2019 income statements.

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Definitions:

Social Stratification

The arrangement or classification of society into hierarchical layers based on aspects like wealth, power, race, or education.

Agricultural Innovation

The process of introducing new ideas, methods, or devices to improve the efficiency and productivity of farming practices.

Raised Fields

Elevated areas of soil created for agricultural purposes, often found in flood-prone regions to improve drainage and soil fertility.

Reservoirs

Artificial or natural lakes used for the storage of water, often created by damming rivers for water supply, irrigation, or hydroelectric power.