Match the statements with the appropriate terms :
-Office supplies on hand that will be used in the next period.
A) Prepaid expenses
B) Revenue received in advance
C) Accrued revenues
D) Accrued expenses

Question

Quizplus · Accepted Answer

Office supplies on hand that will be used in the next period are considered prepaid expenses because the payment has been made for goods or services that will be utilized in a future accounting period.

Match the Statements with the Appropriate Terms