Which of the Following Is an Example of an Expense

question 45

Multiple Choice

Which of the following is an example of an expense:

• A)an owner withdrawal for personal use.
• B)the payment of the monthly utility bill.
• C)the receipt of cash from a credit customer.
• D)the payment of a creditor on account.

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Definitions:

AnnualCreditReport.com

The official website that allows consumers to access their credit reports for free annually from the three major credit bureaus.

Reporting Agencies

Organizations that collect, compile, and distribute information about individuals or companies, especially for credit reporting, background checks, or statistical purposes.

Credit Reports

Documents that contain detailed information about an individual's credit history, including loans, credit cards, and payment history.

Closed-end Credit

A type of loan where a consumer borrows a specific amount of money and agrees to repay it over a fixed period with scheduled payments.