When a business erroneously records expenses as assets,it has violated the measurement issue of
A)communication.
B)classification.
C)valuation.
D)realization.

Question

Quizplus · Accepted Answer

When a business erroneously records expenses as assets, it has violated the classification issue, as it incorrectly categorizes an expense (which should reduce equity) as an asset (which is something that provides future economic benefit).

When a Business Erroneously Records Expenses as Assets,it Has Violated