$9$ of $30$ Concepts completed

$($i$)$

Multiple Select Question

Select all that apply

Which of the following statements are accurate regarding supplies? $($Check all that apply.$)$

Supplies are assets until they are used.

Unused supplies can be recorded as Store Supplies, Office Supplies or Supplies.

When supplies are purchased, they are added to the Supplies account.

Unused supplies are treated as expenses.

Unused supplies are treated as assets.

Supplies is considered a liability account.