Rent Expense Appears on Which of the Following Statements

question 105

Multiple Choice

Rent expense appears on which of the following statements?

• A)Balance sheet.
• B)Income statement.
• C)Statement of retained earnings.
• D)Statement of periodic expenses.
• E)Statement of cash flows only.

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Definitions:

Total Revenue

The overall amount of money received by a company from its sales of goods or services, without deducting any costs.

Total Variable Cost

The total of all variable expenses associated with the production of goods or services, which changes as the level of production output changes.

Operate

To control the functioning of a machine or process, or to run and manage a business or organization.

Market Price

The current price at which an asset or service can be bought or sold in the market.