Ongoing Expenses Incurred by the Entity, Other Than Direct Expenses

question 119

Multiple Choice

Ongoing expenses incurred by the entity, other than direct expenses for merchandise and other costs directly related to sales, are called:

• A)cost of goods sold.
• B)extraordinary items.
• C)operating expenses.
• D)other expenses.

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Definitions:

Per Se Violation

A legal doctrine in antitrust law where certain business activities are considered illegal in themselves, regardless of their harm or outcomes.

Antitrust Laws

Legislation enacted to prevent new monopolies from forming and promote competition by prohibiting agreements, practices, or mergers that restrain trade or reduce competition.

Conspiracy

An agreement between two or more persons to commit an illegal act or to accomplish a legal end through illegal actions.

Price-Fixing

An illegal agreement between parties to sell a product at a set price, limiting competition and manipulating the market.