Which of the Following Would Not Be Currently Reported as an Expense

question 8

Multiple Choice

Which of the following would not be currently reported as an expense on the income statement?

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

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Definitions:

Horseless Carriage

The term "horseless carriage" historically refers to an early automobile or car, highlighting the transition from horse-drawn vehicles to motorized ones.

David Buick

An American inventor and businessman who founded the Buick Motor Company.

General Motors

An American multinational corporation that designs, manufactures, markets, and distributes vehicles and vehicle parts.

Oldsmobile

An American automobile brand that was produced by General Motors and was one of the oldest car brands in the world before it was discontinued.