Asked by
Amanda Mccoy
on Nov 14, 2024Verified
From an accounting standpoint the acquisition of productive facilities can be thought of as a long-term
A) accrual of expense.
B) accrual of revenue.
C) accrual of unearned revenue.
D) prepayment for services.
Productive Facilities
Assets such as factories and machinery used in the production of goods and services.
Accounting Standpoint
A perspective or basis from which financial transactions and conditions are analyzed or assessed.
Long-Term Prepayment
Payments made in advance for expenses that will be recognized over a period longer than one year.
- Distinguish among various account types including assets, liabilities, revenues, and expenses within the framework of making adjusting entries.
Verified Answer
ND
Learning Objectives
- Distinguish among various account types including assets, liabilities, revenues, and expenses within the framework of making adjusting entries.