Recognizing an expense may be accompanied by which of the following?
A)A decrease in liabilities
B)An increase in assets
C)A decrease in revenue
D)A decrease in assets

Question

Quizplus · Accepted Answer

Recognizing an expense means that the company has used up some resources or incurred some costs, which leads to a decrease in the assets of the company. This is because the company has either paid for these expenses or will need to pay for them in the future.

Recognizing an Expense May Be Accompanied by Which of the Following