Which of the Following Expense Accounts Would Not Normally Be

question 98

Multiple Choice

Which of the following expense accounts would not normally be tested by listing all debits and examining any significant items?

• A)Legal Expense
• B)Miscellaneous Expense
• C)Repairs and Maintenance
• D)Payroll Expense.

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Definitions:

Efficient

The optimal use of resources to achieve the desired outcome with minimal waste or expense.

Voting Outcome

The result of a voting process, determining which candidates or measures have been selected or rejected based on majority preference.

Majority Vote

A decision rule in which the option that receives more than half of the votes is chosen.

Economic Efficiency

A state where resources are allocated in the most effective way possible, maximizing output without wasting any inputs, ensuring that goods and services are produced at the lowest possible cost and distributed to those who value them most.