Which of the following transactions will not result in the recognition of an expense?
A) Interest accrued on a bank loan
B) A cash withdrawal by the owner
C) Use of machinery during the period
D) Expiration of prepaid insurance
Correct Answer:
Verified
Q65: The periodicity assumption recognizes that
A)the company may
Q67: The recording of an expense could result
Q71: Expenses are incurred
A)to generate revenue.
B)to produce liabilities.
C)only
Q74: Equipment might be depreciated over 15 years
Q75: Financial statement time periods should be of
Q76: A customer's promise to pay for goods
Q79: The matching rule is applied
A)because it is
Q85: The matching rule relates the least to
A)
Q93: Which of the following is not an
Q97: Which of the following is the most
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