Expenses are shown on the income statement only in the time period in which they are paid.
BT: Comprehension

Name: Expenses are shown on the income statement only in the time period in which they are paid. BT: Comprehension
Brand: Quizplus
Rating: 4.8 (57 reviews)

Question

Quizplus · Accepted Answer

Expenses are shown on the income statement in the time period in which they are incurred, not necessarily paid. Some expenses may be paid in a different time period than when they were incurred, and this can be reflected through accrual accounting.

Expenses Are Shown on the Income Statement Only in the Time