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_________ normally are carried on an organization's books as expenses because they tend to be consumed by the organization within a year of purchase.
Suggested Answer: A
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29 comments · newest first
CA
Carli
8 months ago
A) Supplies is the best choice. Clear and straightforward!
MI
Miesha
8 months ago
D) Equity is definitely wrong. Not related to expenses.
TY
Tyra
8 months ago
C) Assets doesn’t fit. They last longer than a year.
SH
Sherron
8 months ago
I’m leaning towards B) Expenses. But it feels too broad.
LY
Lynelle
9 months ago
I think it's A) Supplies. They get used up quickly.
MA
Malcom
9 months ago
Yeah, Supplies are used up fast, so A fits.
HO
Hortencia
9 months ago
Surprised this isn't a trick question!
IS
Isaiah
9 months ago
I think it's A too, makes sense.
KE
Kenia
9 months ago
Haha, who would even consider D) Equity? That's just plain wrong!
GE
Gerardo
9 months ago
A) Supplies, hands down. This is Accounting 101, people.
IL
Ilda
10 months ago
B) Expenses, no doubt. I could've answered this one in my sleep.
SE
Serita
10 months ago
C) Assets? Really? That's just silly. Everyone knows supplies are expenses, not assets.
RE
Renay
10 months ago
A) Supplies, of course! I mean, who doesn't know that supplies are expensed as they're consumed?
LO
Louann
10 months ago
Supplies are definitely the right answer!
AL
Alex
10 months ago
I feel pretty confident about this one. Supplies are consumed within a year, so they're normally recorded as expenses. I'll select A) Supplies.
DA
Daisy
11 months ago
Agreed, A) Supplies makes sense. They’re short-term.
OL
Ollie
11 months ago
Wait, are we sure it's not Expenses?
BE
Becky
11 months ago
Assets are things the company owns that have value, so I don't think it's C) Assets. I'm leaning towards A) Supplies.
AI
Aileen
11 months ago
I'm a little unsure about this one. I'll need to review my notes on the differences between assets, expenses, and equity.
ST
Staci
12 months ago
Okay, I know supplies are usually expensed right away, so I'm going to go with A) Supplies.
EL
Elden
12 months ago
Hmm, this seems like a straightforward accounting question. I'll need to think about the definitions of the different account types.
MI
Mickie
7 months ago
True, but supplies are more specific to what’s used up quickly.
MA
Margarett
7 months ago
But what about B) Expenses? They also fit the description.
DO
Donte
7 months ago
Yeah, I agree with you, Mike. Supplies are definitely consumed within a year.
AM
Ammie
7 months ago
I think it's A) Supplies. They get used up quickly.
AL
Alishia
12 months ago
I thought it could be B) Expenses too, but that seems too broad. Supplies seems more specific.
MA
Marge
1 year ago
This question reminds me of a practice question we did on categorizing costs. I feel like A) Supplies fits best.
RO
Royce
1 year ago
I'm not entirely sure, but I remember something about expenses being recorded differently than assets.
KA
Karina
1 year ago
I think the answer might be A) Supplies, since they are usually used up quickly.