Question
Fill in the Blank Question Supplies are square (assets/expenses Miabilities) until they are used. When they are used, their costs are reported as square (assets/e)(penses/liabilities). (4)
Answer
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Leah
Expert · Tutor for 3 years
Answer
### Supplies are
until they are used. When they are used, their costs are reported as
.
Explanation
## Step1: Identify the nature of supplies before use### Supplies are considered assets before they are used because they provide future economic benefits.## Step2: Identify the nature of supplies after use### When supplies are used, their costs are reported as expenses because they represent the cost of resources consumed.