QUESTION:394 The costs that provide a benefit to a company over more than one accounting period are called: A. Capital expenses B. Revenue expenses C. Asset expenses D. Manufacturing equipments expenses Answer:A QUESTION:395 _________________ are potential obligations that will materialize only if certain events occur in future. QUESTION:396 According to Accounting Changes and Errors Corrections, which of the following is NOT the type accounting change that must be disclosed to avoid misleading the user of financial statements? QUESTION:397 Improper asset valuations usually fall into which of the following category?
QUESTION:398 To debit accounts receivables and credit sales is the typical entry under: A. Fictitious account payables B. Fictitious account receivables C. Failure to write off account receivables D. Failure to write off account payables Answer:B