At the End of October,Flagship Marina Received a Bill for Fuel

question 113

Multiple Choice

At the end of October,Flagship Marina received a bill for fuel used in October.Payment is not due until November 30.This transaction:

• A)Should not be recorded in the accounting records until November.
• B)Causes a decrease in assets and in owners' equity in November,when the bill is paid.
• C)Should be recorded as an expense of October,regardless of the payment date.
• D)Is recorded as a liability in October,but is not considered an expense until paid.

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Definitions:

Endomycorrhizae

A type of mycorrhiza in which the fungus penetrates the cortical cells of the roots of a vascular plant, enhancing nutrient exchange.

Mycorrhizal Associations

Symbiotic relationships between the roots of plants and fungi, helping plants to absorb nutrients more efficiently from the soil.

Systemic

Pertaining to or affecting the body as a whole, often referred to in the context of systemic diseases or systemic treatments.

Crop Failure

An agricultural event where crops do not grow as expected or are destroyed before harvest, often due to unfavorable environmental conditions, pests, or diseases, leading to a significant decrease in yield.