Expenses of a Business Include

question 7

Multiple Choice

Expenses of a business include:

• A)sales and cash equivalents.
• B)common stock and rent expense.
• C)cost of goods sold and salaries expense.
• D)retained earnings and utilities expense.

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Definitions:

Advertising Expenditure

The amount of money spent on advertising campaigns to promote products or services.

Quarterly Income Statement

A financial report that summarizes the revenues, expenses, and earnings of a company over a three-month period.

Fiscal Year

A 12-month period that a company uses for accounting purposes and preparing financial statements, which may or may not align with the calendar year.

Master Budgets

A comprehensive financial planning document that consolidates all of a company's budgets, serving as a financial roadmap.