Operating Expenses Directly Traceable to or Incurred for the Sole

question 101

Multiple Choice

Operating expenses directly traceable to or incurred for the sole benefit of a specific department and usually subject to the control of the department manager are

• A) miscellaneous administrative expenses
• B) direct operating expenses
• C) indirect expenses
• D) fixed expenses

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Definitions:

Liable

Legally responsible or obligated.

Co-signs

Agrees to be equally responsible for the repayment of a loan or obligation, typically to help another person obtain credit.

Primarily Liable

The main or foremost obligation or responsibility to fulfill a debt or legal duty.

Student Loan

A student loan is a type of loan designed to help students pay for post-secondary education and the associated fees, such as tuition, books and supplies, and living expenses.