On the balance sheet,the acquisition and expenditure process includes which of the following accounts?

Question

Quizplus · Accepted Answer

The acquisition and expenditure process is related to the purchase of inventory and payment of suppliers, which are recorded in the accounts purchases of inventory and accounts payable, respectively. Therefore, the correct choice is F, which includes both options. The other options are not directly related to the acquisition and expenditure process, as follows: A - cost of goods sold is a result of sales, not expenses; B - selling, general and administrative expenses are related to ongoing business activities, not acquisitions; E - cash receipts are related to the collection of revenue, not expenses.

On the Balance Sheet,the Acquisition and Expenditure Process Includes Which