Which of the Following Is Considered to Be an Expense

question 101

Multiple Choice

Which of the following is considered to be an expense on the income statement?

• A)Accounts payable.
• B)Notes payable.
• C)Wages payable.
• D)Cost of goods sold.

---

Definitions:

System

A complex set of interrelated elements or components that work together to achieve a certain goal or perform a specific function.

Patents

Grant inventors the right to stop others from manufacturing, using, or selling (including importing) their inventions for a period of 20 years from the date the patent is filed.

RAW Files

Unprocessed image files captured by a digital camera, retaining all the details and allowing for more flexibility in editing compared to compressed formats.

JPEG Files

A format for compressing image files, widely used for storing and transmitting photographs on the web.