The cost of assets consumed or services used is also known as a(n)
A) revenue.
B) expense.
C) liability.
D) asset.
Correct Answer:
Verified
Q75: Dividends declared are reported on
A)the statement of
Q76: Resources owned by a corporation are referred
Q77: Allocating and recording the cost of using
Q78: Retained earnings at the end of the
Q79: When an expense is incurred
A)an asset increases.
B)a
Q81: Use the following information for questions
Plumbers-on-the-Go
Q82: If total liabilities decreased by $134,000 during
Q83: A statement of income
A)summarizes the changes in
Q84: Retained earnings are
A)the shareholders' claim on total
Q85: Payments to shareholders are called
A)expenses.
B)liabilities.
C)dividends.
D)shares.
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