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The second necessary expense rule, often associated with financial planning, emphasizes that individuals should prioritize their essential expenses after accounting for basic needs like housing and food. This rule suggests that once basic necessities are covered, individuals should allocate funds to other necessary expenses such as healthcare, transportation, and debt payments. By adhering to this rule, people can avoid overspending on non-essential items and maintain financial stability. This approach encourages disciplined budgeting and financial responsibility.
What else can I help you with?
Prepaid expenses are an example of an expense True or False?
true
Are expense accounts increased by credits?
true
An adjusting entry would adjust an expense account so the expense is reported when incurred?
True
Is depreciation expense listed on a balance sheet?
true
The systematic allocation of land's cost to expense is called depreciation?
true
Which is true about the second necessary expense rule an expenditure must not be prohibited by law?
The second necessary expense rule states that an expenditure must not be prohibited by law, meaning it must be legal and not violate any regulations or restrictions. It ensures that any necessary expenses claimed are permissible and within the boundaries of the law.
Is the 5 second rule true?
the 5 second rule is not true there are still germs on it
Given the necessary expense rule and investment expense threshold which statement is true?
Since O&M items exceeding $250,000 fall within the scope of another appropriation (investment), you cannot use O&M funds to pay for them
Prepaid expenses are an example of an expense True or False?
true
Are expense accounts increased by credits?
true
An adjusting entry would adjust an expense account so the expense is reported when incurred?
True
Is depreciation expense listed on a balance sheet?
true
True or False special handling for all sensitive data including PHI requires accessing only what is necessary to complete a work related duty or job this is known as the minimum necessary rule?
Truetrue
A rule that is assumed to be true but is not proven?
A rule that is assumed to be true, but is not proven is a postulate
What is the meaning of true second in high school wrestling?
The rule can have slight variations, but in general "true second" means the 3rd place wrestler is given an opportunity to challenge the loser of the championship match if the 2 wrestlers have not already faced eachother.
Why is the rule of multiplication and division signed numbers is true?
If it were not true, it would not have become the rule!
What is the two-second rule was designed for good weather and clear visibility?
The two-second rule is a guideline for safe following distance while driving. It suggests that you should keep a minimum distance of two seconds between your vehicle and the one in front. This rule allows enough time to react and brake if needed.
