When an expense is incurred prior to the payment of cash for that expense, an adjustment that increases an expense account and decreases an asset is prepared

The balance in the Bonds Payable account is a credit of $16,500. The balance in the Premium on Bonds Payable account is a credit of $1,000. The balance sheet will report the bond balance as $15,500

Indicate whether the statement is true or false

Understanding the need your proposal meets and how you propose to address that need is involved in the first step of preparing a proposal, defining its ________

A) content B) context C) purpose D) format E) medium