Expenses That CANNOT Be Traced Directly to Operations Are Identified

question 104

Multiple Choice

Expenses that CANNOT be traced directly to operations are identified as

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

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Definitions:

Accumulated Depreciation

The aggregate cost of a tangible asset that has been recognized as depreciation since the asset's initial use.

Trading In

The action of exchanging an old product for a discount on a new purchase.

Repairs

Expenditures to restore equipment, machinery, or property to its previous condition or to keep it in operational status without enhancing its value or extending its life.

Office Equipment

The furniture, computers, machines, and other tools used in offices for operational purposes.