Payment of a telephone bill represents an increase in a(n)
A) asset.
B) liability.
C) revenue.
D) expense.

Name: Payment of a telephone bill represents an increase in a(n) A) asset. B) liability. C) revenue. D) expense.
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Question

Quizplus · Accepted Answer

Payment of a telephone bill represents an expense, as it is a cost incurred in order to operate the business. It does not represent an increase in assets or revenues, and cannot be considered a liability as it has already been incurred and needs to be paid.

Payment of a Telephone Bill Represents an Increase in A(n)