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XYZ Company usually purchases office supplies monthly as it needs them and pays for them the following month. Office Supplies would be considered A. an unearned revenue. B. a prepaid expense. C. an accrued revenue. D. an accrued expense.

XYZ Company usually purchases office supplies monthly as it needs them and pays for them the following month. Office Supplies would be considered A. an unearned revenue. B. a prepaid expense. C. an accrued revenue. D. an accrued expense.

Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter4: Income Measurement And Accrual Accounting
Section: Chapter Questions
Problem 4.5E: Office Supplies Somerville Corp. purchases office supplies once a month and prepares monthly...
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XYZ Company usually purchases office supplies monthly as it needs them and pays for them the following month. Office Supplies would be considered A. an unearned revenue. B. a prepaid expense. C. an accrued revenue. D. an accrued expense.
 
 
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