An Expense That Is Readily Traced to a Department Because

question 50

Multiple Choice

An expense that is readily traced to a department because it is incurred for that department's sole benefit is a(n) :

• A)Common expense.
• B)Indirect expense.
• C)Direct expense.
• D)Administrative expense.
• E)Recurring expense.

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Definitions:

Free On Board

Free On Board (FOB) is a term used in international trade that indicates whether the seller or the buyer is liable for goods that are damaged or destroyed during shipping.

Journalize

Journalize is the act of recording business transactions in the accounting journals as part of the double-entry bookkeeping system, detailing debits and credits.

Journalize

The act of recording business transactions in the journal as part of the accounting process.

Merchandise Sold

Products that have been sold by a company, typically referring to goods rather than services.