Which one of the following would be recognised as an expense in the current financial period?O A. An invoice for printing, owing at the end of the previous financial period, but paid in the current financial periodO B. A cash payment made during the current financial period, but relating to the first three months' rent due for the next financial periodO C. An invoice received for gas used in the last quarter of the current financial period, but which is not paid until the next financial periodO D. A payment made in the current financial period to hire a machine that will be used at the beginning of the next financial period

The correct answer is: (C) An invoice received for gas used in the last quarter of the current…

Answered: Which one of the following would be…

Business

Accounting

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

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

Which one of the following would be recognised as an expense in the current financial period?
O A. An invoice for printing, owing at the end of the previous financial period, but paid in the current financial period
O B. A cash payment made during the current financial period, but relating to the first three months' rent due for the next financial period
O C. 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
O D. A payment made in the current financial period to hire a machine that will be used at the beginning of the next financial period

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