Office supplies are purchased in bulk and recorded as an asset.They are used by staff on a daily basis.An expense recognising the use of the office supplies will normally be recorded:

Question

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Office supplies are recorded as an asset when purchased, but the expense is recognized when they are used. An end-of-period adjustment is made to account for supplies used during the accounting period. Option A is incorrect because it does not recognize the expense when the supplies are used. Option B is incorrect because paying for the supplies does not necessarily mean they have been used. Option D is also incorrect because recording the expense on a daily basis would be impractical and time-consuming.

Office Supplies Are Purchased in Bulk and Recorded as an Asset.They