Under an accrual accounting system, an expense is recognized when O A. a good or service is used or sold O B. a good or service is paid for O C. a good or service is first ordered D. a good or service is delivered

Under an accrual accounting system, an expense is recognized when O A. a good or service is used or sold O B. a good or service is paid for O C. a good or service is first ordered D. a good or service is delivered

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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Question

Under an accrual accounting system, an expense is recognized when
O A. a good or service is used or sold
O B. a good or service is paid for
O C. a good or service is first ordered
O D. a good or service is delivered
SUBMIT

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