Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

An example of an account where Cash is paid before Expense is recognized is: a. accumulated depreciation b. unearned rent c. prepaid subscriptions d. accounts

An example of an account where Cash is paid before Expense is recognized is:

a. accumulated depreciation

b. unearned rent

c. prepaid subscriptions

d. accounts receivable

The correct answer is "prepaid subscriptions", I know the reason for this one, but why isn't "accumulated depreciation" also a correct answer?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing A Practical Approach

Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton

3rd Edition

0730364577, 978-0730364573

More Books

Students also viewed these Accounting questions

Question

=+b. Which of these variables are discrete numerical?

Answered: 1 week ago

Question

=+ (a) Show that the definition is consistent.

Answered: 1 week ago