Which of the Following Best Describes the Term "Expenses

question 57

Multiple Choice

Which of the following best describes the term "expenses"?

• A)The cost of assets used in the investing activities of a business.
• B)The amount of interest or claim that the owners have in the business.
• C)The future economic resources of a business entity.
• D)The cost of assets used in the operations of a business.

---

Definitions:

Common Law

A legal system based on court precedents and customs, as opposed to statutory laws.

Preliminary Negotiations

Initial discussions aimed at reaching an agreement or understanding before formal negotiations commence.

Advertisement

A public promotion of some product or service, aiming to attract interest, engagement, and sales.

Auction Without Reserve

An auction in which the item for sale will be sold regardless of price, with no minimum bid or reserve price set.