Assertion: expense | /r/HasProperty | recorded
Facets:
Source sentences:
text: Registering an expense under the cash accounting method, on the other hand, means that each expense is recorded only when money actually changes hands.
text: When an expense account is debited, the account credited might be Cash (if cash was paid at the time of the expense), Accounts Payable (if cash will be paid after the expense is recorded), or Prepaid Expense (if cash was paid before the expense was recorded.)
text: When an expense account is debited, the account credited might be Cash (if cash was paid at the time of the expense), Accounts Payable (if cash will be paid after the expense is recorded), or Prepaid Expense (if cash was paid before the expense was recorded.)
text: According to the accrual basis of accounting, expenses must be recorded when they are incurred, not necessarily when they are paid.