Expenses That Support the Overall Operations of a Business and Include

question 63

Multiple Choice

Expenses that support the overall operations of a business and include the expenses relating to accounting,human resource management,and financial management are called:

• A)Cost of goods sold.
• B)Selling expenses.
• C)Purchasing expenses.
• D)General and administrative expenses.
• E)Non-operating activities.

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Definitions:

Common Stock

Represents equity ownership in a corporation, providing holders with voting rights and a share in the company's profits through dividends.

Note Payable

A written agreement to pay a certain sum of money, typically with interest, at a future date.

IFRS

A global framework for financial reporting, International Financial Reporting Standards are accounting standards established by the International Accounting Standards Board (IASB).

Financial Liability

An obligation that requires the entity to transfer economic benefits including money, goods, or services to another entity as a result of past transactions or events.