Some events are not recorded daily because it is inefficient to do so. Examples are the use of supplies and the earning of wages by employees. Some costs are not recorded during the accounting period because these costs expire over time rather than as a result of recurring daily transactions?

Examples are charges related to using buildings and equipment, rent, and insurance? Some items may be unrecorded like a utility service bill that usually gets mailed at the next accounting period?

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The first type of costs you described such as the use of supplies and the earning of wages by employ... View the full answer