Which of the following is not true for an operating expenditure?
A) It is recorded with a debit to a statement of financial position account.
B) It benefits the current period only.
C) It is incurred to maintain an asset in its normal operating condition.
D) It often recurs.

Question

Quizplus · Accepted Answer

Operating expenditures are recorded as expenses on the income statement, not as debits to a statement of financial position account, which typically involves assets or liabilities.

Which of the Following Is Not True for an Operating