a company purchased supplies for cash, which will be consumed during future months. which of the following correctly describes t

Question

tekilochka [14]

2 years ago

12

a company purchased supplies for cash, which will be consumed during future months. which of the following correctly describes t

he impact of the supplies purchase on the financial statements?

Business

1 answer:

harina [27] · Answer 1 · 2023-10-25T08:58:38+03:00

The answer choice that correctly describes the impact of the supplies purchase on the financial statements is A. total assets will remain unchanged.

<h3>What is an Asset? </h3>

This refers to financial property owned by a company or individual that has some degree of value.

Hence, we can see that given the fact that a company purchased supplies for cash that would be used in a few months, this would leave the total assets unchanged.