Multiple Select Question

Select all that apply

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

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

Unused finupplies are treated as assets.

Supplies are assets until they are used.

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

Supplies is considered a liability account.

Unused supplies are treated as expenses.

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