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Which of the following statements are accurate regarding supplies? Supplies is considered a liability account....

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Accounting

Which of the following statements are accurate regarding supplies?
Supplies is considered a liability account.
When supplies are purchased, they are added to the Supplies account.
Supplies are assets until they are used.
Unused supplies are treated as assets.
Unused supplies can be recorded as Store Supplies, Office Supplies or Supplies.
Unused supplies are treated as expenses.
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