If costs do not have objective, measurable future benefit, they are
A) not reported on the financial statements.
B) reported on the balance sheet as an asset.
C) reported on the income statement as an expense.
D) reported on the income statement as an asset or the balance sheet as an expense.

Question

Quizplus · Accepted Answer

Costs that do not have objective, measurable future benefits are considered expenses and are reported on the income statement.

If Costs Do Not Have Objective, Measurable Future Benefit, They