Which of the following accounts is associated with the current financial resources measurement focus but not with the economic resources measurement focus?
A)assets
B)expenditures
C)revenues
D)liabilities

Question

Quizplus · Accepted Answer

Expenditures are associated with the current financial resources measurement focus because they represent outflows of resources during a reporting period. However, under the economic resources measurement focus, expenditures would be capitalized as assets and recognized over their useful lives, rather than expensed immediately. Therefore, expenditures are not associated with the economic resources measurement focus. The other options, assets, revenues, and liabilities, are associated with both measurement focuses.

Which of the Following Accounts Is Associated with the Current