Ongoing Expenses Incurred by the Entity, Other Than the Direct

question 79

Multiple Choice

Ongoing expenses incurred by the entity, other than the direct expenses for merchandise, are called:

• A)other expenses.
• B)extraordinary items.
• C)cost of goods sold.
• D)operating expenses.

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Definitions:

Good Planning

The process of setting objectives, determining strategies, and outlining tasks and schedules to accomplish the goals efficiently and effectively.

Scenario Planning

A strategic planning method used to make flexible long-term plans based on the systematic examination of future potential events and their impacts.

Long-term Version

Long-term Version implies a perspective or plan that extends into the distant future, prioritizing sustainability, ongoing development, and the anticipation of future challenges and opportunities.

Contingency Planning

The process of preparing strategies to deal with unexpected events or emergencies that might affect an organization's operations.