Question: MC Qu . 2 4 If certain assets are partially used up . . . If certain assets are partially used up during the accounting

MC Qu.24 If certain assets are partially used up ...
If certain assets are partially used up during the accounting period, then:
Multiple Cholce
a liability account is decreased and an expense is recorded.
nothing is recorded on the financial statements until they are replaced or replenished.
an asset account is decreased and an expense is recorded.
nothing is recorded on the financial statements until they are completely used up.
MC Qu.24 If certain assets are partially used up ... If

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