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1) Office supplies purchased in bulk are initially charged to an asset account and are used on a daily basis. An expense will normally be
1) Office supplies purchased in bulk are initially charged to an asset account and are used on a daily basis. An expense will normally be recorded:
a) when supplies are ordered.
b) at the end of the accounting period when an end-of-period adjustment is prepared for supplies used.
c) on a daily basis.
d) when supplies are paid for.
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