Which of the following statements is correct regarding expenses. Multiple choice question. Expenses result from products or services provided to customers Expenses increase equity. Expenses are increased on the left side of their T-account because they decrease equity. Expenses are reported on the left side of the accounting equation.

For a firm that uses the weighted average method of process costing, which of the following must be true? (a) physical units can be greater than or less than equivalent units. (b) physical units must be equal to equivalent units. (c) equivalent units must be greater than or equal to physical units. (d) physical units must be greater than or equal to equivalent units.