Answered: Which one of the following would be…

Name: Which one of the following would be recognised as an expense in the cu
Uploaded: 2024-03-04T10:43:15.000Z
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Description: Which one of the following would be recognised as an expense in the current financial period? A.A payment made in the current financial period to hire a machine that will be used at the beginning of the next financial period B.A cash payment made

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Which one of the following would be recognised as an expense in the current financial period?

A payment made in the current financial period to hire a machine that will be used at the beginning of the next financial period

A cash payment made during the current financial period, but relating to the first three months' rent due for the next financial period

An invoice received for gas used in the last quarter of the current financial period, but which is not paid until the next financial period

An invoice for printing, owing at the end of the previous financial period, but paid in the current financial period

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A firm has a higher asset turnover ratio than the industry average, which implies

the firm has a higher P/E ratio than other firms in the industry.

the firm is more likely to avoid insolvency in the short run than other firms in the industry.

the firm is more profitable than other firms in the industry.

the firm is utilizing assets more efficiently than other firms in the industry.

the firm has higher spending on new fixed assets than other firms in the industry.

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