Some of ABC's transactions for the month of October are as follows.Which transaction,if any,is an expense for the month of October?
A) Purchased $50 worth of petrol on credit,to be paid for in November
B) Paid $1000 off a loan obtained during July
C) Paid a mechanic $250 for repair work carried out in September
D) Purchased a photocopier for $15 000
Correct Answer:
Verified
Q11: The effect on the accounting equation of
Q12: Evidence that would not be of help
Q13: Which of the following is not a
Q14: The accounts land,accounts receivable,sales revenue and accounts
Q15: The liability created by a business purchasing
Q17: The business hires an office manager at
Q18: A present obligation of the entity arising
Q19: If a transaction causes an asset account
Q20: The duality concept requires that each transaction
Q21: A business paid $725 for employees' wages
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents