Direct Expenses Include All of the Following EXCEPT _______________

question 7

Multiple Choice

Direct expenses include all of the following EXCEPT _______________.

• A) equipment depreciation
• B) wages and salaries
• C) educational travel and seminars
• D) equipment purchases

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Definitions:

Asset Account

An account on a company’s balance sheet that represents a resource controlled by the company as a result of past events and from which future economic benefits are expected.

Liability Account

An accounting record of amounts owed by a business to creditors, typically categorized as current or long-term liabilities.

Bank Service Charge

Fees charged by banks for handling specific types of transactions, account maintenance, or services rendered.

Note Receivable

A written promise that requires one party to pay a specified sum of money to another party on a set date or on demand.