Rent,amortization,and Salaries Are All Examples Of

question 54

Multiple Choice

Rent,amortization,and salaries are all examples of:

• A)expenses.
• B)owners' equity.
• C)liabilities.
• D)assets.

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Definitions:

Invoice

A document issued by a seller to a buyer, indicating the products, quantities, and agreed prices for products or services the seller has provided to the buyer.

Owner's Equity

The residual interest in the assets of an entity after deducting liabilities, representing the ownership interest.

Drawing Account

An account used by a sole proprietor to track money withdrawn from the business for personal use.

Total Assets

The sum of all current and non-current assets owned by a company, representing its overall value.