A company usually determines the amount of supplies used during a period by
A)adding the supplies on hand to the balance of the Supplies account.
B)totalling the amount of supplies purchased during the period.
C)taking the difference between the supplies purchased and the supplies paid for during the period.
D)taking the difference between the balance of the Supplies account and the cost of supplies on hand.

Question

Quizplus · Accepted Answer

The amount of supplies used is determined by subtracting the cost of supplies on hand at the end of the period from the balance of the Supplies account at the beginning of the period.

A Company Usually Determines the Amount of Supplies Used During