Which of the Following Is NOT an Expense

question 11

Multiple Choice

Which of the following is NOT an expense?

• A) Dividends declared
• B) Amount owed to electrician to be paid in the next period
• C) Cost of goods sold
• D) Wages

---

Definitions:

Domestic Stock Exchange

A marketplace within a country where stocks, bonds, and other securities are bought and sold.

National GAAP

The set of accounting standards and principles recognized by a specific country to guide financial reporting and auditing.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that guide the preparation of financial statements globally.

International Financial Reporting Standards

A set of accounting standards developed by the International Accounting Standards Board (IASB) that is global in scope.