Which of the following statements is true of a deferred expense?

Which of the following statements is true of a deferred expense?

Use letters in alphabetical order to select options

  1. A
  2. It relates to a cash payment for goods or services not yet received
  3. B
  4. It may be recorded initially with a debit to expense or a debit to deferred expense
  5. C
  6. An expense is only deferred until the related check is cashed by the payee
  7. D
  8. Both a and b
  9. E
  10. Both a and c

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