Goods purchased for future use in the business, such as supplies, are called:
A)prepaid expenses.
B)revenues.
C)stockholders' equity.
D)liabilities.

Name: Goods purchased for future use in the business, such as supplies, are called: A)prepaid expenses. B)revenues. C)stockholders' equity. D)liabilities.
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Question

Quizplus · Accepted Answer

Goods purchased for future use in the business, such as supplies, are considered prepaid expenses because they are paid for in advance and will be used up over time.

Goods Purchased for Future Use in the Business, Such as Supplies