select the correct answer. steven is preparing the balance sheet for the company. where can he show the…

select the correct answer. steven is preparing the balance sheet for the company. where can he show the amount for the supplies bought on credit? a. under profit b. under assets c. under liabilities d. under investments

select the correct answer. steven is preparing the balance sheet for the company. where can he show the amount for the supplies bought on credit? a. under profit b. under assets c. under liabilities d. under investments

Answer

Brief Explanations:

Supplies are resources owned by the company, and assets are resources with economic value owned or controlled by an entity. Supplies bought on credit are still company - owned resources, so they are shown under assets on the balance sheet.

Answer:

B. under assets