1. In the following situations, determine the element that does not give rise to an accounting expense a. The firm pays the rent for the current month on the last day of the month. b. The firm invests massively in the development of good business relations with their clients by scheduling more employees on the selling floor than necessary. C. The firm has purchased 12 oil filters to be sold to their clients, but due to a delay, they have not yet delivered the filters to the client. d. The long term debt outstanding during the period carries an interest rate of 3%.

1. In the following situations, determine the element that does not give rise to an accounting expense a. The firm pays the rent for the current month on the last day of the month. b. The firm invests massively in the development of good business relations with their clients by scheduling more employees on the selling floor than necessary. c. The firm has purchased 12 oil filters to be sold to their clients, but due to a delay, they have not yet delivered the filters to the client. d. The long term debt outstanding during the period carries an interest rate of 3%