A cost can be an asset or expense depending on whether or not the future economic benefits have expired.

Name: A cost can be an asset or expense depending on whether or not the future economic benefits have expired.
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Question

Quizplus · Accepted Answer

This is true. A cost can be classified as an asset if it provides future economic benefits that have not yet expired, while it is classified as an expense if the economic benefits have already expired.

A Cost Can Be an Asset or Expense Depending on Whether