14) Which of the following events would require an expense to be recorded (may have more than one answer)?

Check All That Apply

• Ordering office supplies.

• Paying employees' salaries for the current month.

• Hiring a receptionist.

• Paying for insurance in advance.

• Receiving but not paying a current utility bill

22) Which statement is true?

Multiple Choice

• All Income Statement accounts are Temporary

• Some Income Statement accounts are Permanent and some Income Statement accounts are Temporary.

• All Income Statement accounts are Permanent

30) A company has the following transactions:

1. Pay employees' salaries for the current period.
2. Pay rent in advance.
3. Pay dividends to stockholders in the current period.
4. Receive (but do not pay) a utility bill.
5. Use supplies previously purchased.

How many of these transactions result in an expense being reported in the current period using accrual-basis accounting?

Multiple Choice

• 3

• 2

• 4

• 1