At the date of purchase of a service which is not immediately used up, the cost of such unused service is a(n) :
A) revenue.
B) liability.
C) asset.
D) expense.
Correct Answer:
Verified
Q127: State the accounting assumption, principle, information characteristic,
Q128: J. Green is the sole owner and
Q129: Under ASPE, feedback value is an
Q130: Accrual accounting is essentially an application of:
A)
Q131: Recording periodic depreciation on assets such as
Q133: When assets are acquired, they should be
Q134: Fill in the blanks below with the
Q135: Explain how the continuity assumption and the
Q136: The primary qualitative criteria of accounting information
Q137: If accounting information is timely and has
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