An Example of a One-Time Expense for a Shoe Factory

question 42

Multiple Choice

An example of a one-time expense for a shoe factory would be buying:

• A) a sewing machine, and would be included in total cost.
• B) a sewing machine, and would be excluded from total cost.
• C) leather to make the shoes, and would be included in total cost.
• D) leather to make the shoes, and would be excluded from total cost.

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Definitions:

Collections From Customers

The process of receiving payments from customers for goods or services provided or sold.

Control Accounts

General ledger accounts that summarize and control the total of individual accounts found in subsidiary ledgers.

General Ledger

The primary accounting record of a company that uses double-entry bookkeeping, containing all the financial accounts and transaction data.

Postings Frequency

The rate or regularity at which financial transactions are recorded and posted in accounting systems or ledgers.