Which of the Following Expenditures Would Be Debited to an Expense

question 103

Multiple Choice

Which of the following expenditures would be debited to an expense account?

• A)cost to rebuild the company car's engine
• B)cost to replace the engine of the company car
• C)cost to paint the car after a fender bender
• D)cost to replace the transmission of the company car

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Definitions:

Payor Bank

A bank that is responsible for paying a check or draft on behalf of a customer, typically the bank where the check writer has an account.

Depository Bank

A financial institution that holds and manages securities (stocks, bonds, etc.) for its clients and may also offer other banking services.

Payor Bank

A bank that is responsible for paying a check or draft presented for payment against an account.

Depositary Bank

A financial institution that holds securities, such as stocks or bonds, in electronic or physical form, for investors.