An adjusting entry to convert an asset to expense consists

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Reference no: EM131248316

1. An adjusting entry to convert an asset to expense consists of:

A debit to a liability and a credit to cash.

A debit to an expense and a credit to cash.

A debit to an expense and a credit to an asset account.

A debit to an asset account and a credit to an expense account.

2. One element that is NOT part of the standard cost is

shipping.

labor.

materials.

machine maintenance.

Reference no: EM131248316

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