Which of the Following Could Be Recorded as 'Expenses' Under $\quad$

question 4

Multiple Choice

Which of the following could be recorded as 'expenses' under AASB 101:
I. $\quad$ Cost of goods sold
II. $\quad$ Wages paid
III. $\quad$ nterest paid
IV. $\quad$ Fire damage costs

• A)I only
• B)I and II only
• C)I, II and III only
• D)I, II, III and IV

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Definitions:

Detrimental Effects

Negative impacts or outcomes resulting from a particular action or condition.

Skill

The ability acquired through practice, training, or experience to do something well.

Flexibility

The quality of being able to bend easily without breaking, often referring to the body's ability to move through its complete range of motion without injury.

Employee

An individual who is hired to provide services to a company on a regular basis in exchange for compensation and who does not provide these services as part of an independent business.