Which of the Following Would not Be Included Under

question 41

Multiple Choice

Which of the following would not be included under the account category of expenses within the chart of accounts?

• A)Cost of goods sold.
• B)Interest expense.
• C)Prepaid insurance expense.
• D)Income tax expense.

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Definitions:

Time Frames

Specific periods within which certain activities are scheduled to occur or objectives are meant to be achieved.

Top Management

The highest level of organizational management, including positions such as CEO, CFO, and other senior executives responsible for overall strategic direction and decision-making.

Longer-term Plans

Strategic objectives or projects that are intended to be achieved over an extended period of time.

Focus

The concentration of attention or energy on a specific object, task, or goal.