Which of the following statements about income statement expenses is most correct?
a. Supplies are expensed (shown) on the income statement when purchased.
b. Supplies are expensed (shown) on the income statement when consumed (used to provide patient services).
c. All lease expense is reported on the income statement.
d. Both a. and c. above are correct.
e. Both b. and c. above are correct.
Answer: e. Both b. and c. above are correct.
Business
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Products assembled in foreign trade zones are subject to reduced duties and taxes
Indicate whether the statement is true or false
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