Which of the Following Is Considered to Be an Expense

question 56

Multiple Choice

Which of the following is considered to be an expense on the income statement?

• A)Accounts payable.
• B)Notes payable.
• C)Wages payable.
• D)Cost of goods solD.Income statements begin with sales less cost of goods sold.

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Definitions:

Deep Processing

A method of learning in which information is analyzed in a meaningful way as opposed to merely memorized.

Parallel Processing

The ability of the brain to simultaneously process incoming stimuli of differing quality, a key feature of neural network functioning.

State-dependent Memory

The phenomenon through which information learned in a particular state of mind (e.g., happy, sad, intoxicated) is more easily recalled when in the same state.

Semantic Memories

Memories of meanings, understandings, and other concept-based knowledge unrelated to specific experiences.