Which of the following is an asset use transaction?
A)Purchased land for cash
B)Recorded rent expense at the end of the period
C)Borrowed cash from the bank
D)Accrued salary expense at the end of the period

Question

Quizplus · Accepted Answer

An asset use transaction involves using up or consuming assets, such as recording an expense. Recording rent expense decreases assets (cash or prepaid rent) and increases expenses.

Which of the Following Is an Asset Use Transaction