Supplies Expense is an example of: 1

Accounting Dec 16, 2020

Supplies Expense is an example of:

1. revenue.

2. expense.

3. other Changes to Owners' Equity.

4. None of the above

Expert Solution

The answer is 2. expense.

This is because the supplies expense reflects the cost of the supplies that were used in the reporting period. Seeing that the supplies were used to the company's benefit, it is deemed an expense.

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