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

question 109

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 dividends.
• D)Payment on the principal portion of a loan.

---

Definitions:

25th Percentile

The value below which 25% of the data falls, also known as the first quartile or Q1.

Q1

The first quartile in a data set, marking the value below which 25% of the data points fall.

Q2

The second quartile in a data set, also known as the median, which divides a data set into two equal halves.

Q3

The third quartile in a data set, representing the midpoint between the median and the highest value of the dataset.