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11. The cost of fixed assets recognized as being consumed during

Resolved Question:

11. The cost of fixed assets recognized as being consumed during a fiscal period is recorded as
       plant expense
       depreciation expense
       interest expense
       cost of goods sold

12. Which set of accounts below is correctly listed under the financial statement upon which it is usually reported?
Income Statement     Balance Sheet
cost of goods sold     accounts payable
Income Statement     Balance Sheet
notes receivable     owners' investment
Income Statement     Balance Sheet
sales revenue     cash paid for expenses

Income Statement     Balance Sheet
interest revenue     cost of goods sold

13. Accumulated depreciation is reported
       on the balance sheet as a liability
       on the balance sheet as an contra-asset
       on the income statement as revenues
       on the income statement as expenses
Submitted: 8 years ago.
Category: Homework
Expert:  Neo replied 8 years ago.

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