(p. 91) Which of the following is not an expense and would not show on income statement? Which of the following does not correctly describe the effect of a credit card discount? When payments are made does not determine when expenses are incurred. Ask your own questions or browse existing Q&A threads. Price and quantity supplied move in the same direction. … a. B) Expenses decrease equity, so an expense account's normal balance is a credit balance. 0 votes. Marketing Research Process is a systematic method for planning and executing market research projects to inform business decisions. Explanation: A life insurance is a policy in which the insurer makes an agreement to pay a specific amount of money if the person insured dies and the policy holder have to pay a premium that tend to be annual. Examples of operating expenses include the following: Examples of Compensation-Related Operating Expenses An expense is the cost of operations that a company incurs to generate revenue. Interest expense is the most common non-operating expense. Which of the following is NOT used in the computation of working capital (current assets-current liabilities)? Start studying Accounting. These payments don’t generate operating income, so they are recorded as a non-operating expense. Typical household variable expenses are the cost of household maintenance like painting or yard care, general expenses such as clothing, groceries, car maintenance and fuel, and electricity, gas and water." Office salaries expense would not come under a selling expense. This problem has been solved! Course Hero has all the homework and study help you need to succeed! 33. Paying a dividend. a. sales commission b. hourly wages c. rent d. materials Net sales decrease and gross profit decreases. Depreciation on assets contributed to the partnership by partners. a. Paying for supplies. Answer to Which of the following is not an administrative expense ? (p. 91) Which of the following is not an expense and would not show on income statement? Operating expenses are those expenditures that a business incurs to engage in activities not directly associated with the production of goods or services. Factory supervisor ’ s salary b . C. Paying D. It generally results in higher earnings per share. Solution for Which of the following is not an accrued expense? Advertising expense b. Report Error See the answer. Satisfaction guaranteed! C. Salaries for management hired to run the business. Interest paid to partners based on the amount of invested capital. asked Sep 23, 2015 in Business by Daligirl. a.) Businesses can write off tax-deductible expenses on their income tax … It is less risky to the issuing corporation. c. they can help you prepare for unexpected expenses. Net sales decrease and net income decreases. A) The income statement shows the cash flows and expenses at a given point in time. Which of the following is not considered a legitimate expense of a partnership? Expense is a normally a fixed occurrence such as advertising, rent, utility bills, phone, wages equipment is not an expense because it is generally not a normal occurrence. Interest expense. Which of the following is an expense? Course Hero is not sponsored or endorsed by any college or university. Which of the following statements is not correct? Interest expense. When we say that the package is in the transit or in transit to the destination, it means that the package is on the way to the delivery. View answer The relationship between quantity supplied and price is. Which of the following is not a selling expense? A. In contrast to investment, consumption is relatively stable. We’ve got course-specific notes, study guides, and practice tests along with expert tutors. a. Prepaid expense b. The first step in the marketing research process is to. D. Supplies used in the partners' offices. The lawn maintenance… Depreciation is not a a part of operating expense. Marketing and Sales Questions & Answers for CAT, Analyst,Bank Clerk : Which of the following is not a selling expense? A) Expenses increase equity, so an expense account's normal balance is a credit balance. Which of the following expenses would not appear in Mallcentral's cash budget? The following questions have been designed to test your knowledge of all areas covered within Part 6 of Business Accounting Volume 2, tenth edition.Once you have completed the test, click on 'Submit Answers for Grading' to get your results. B. There is an agreement to purchase goods or services c.) The goods will be delivered or the services will be provided within the accounting cycle d.) The goods or services are used to produce revenue B. Learn vocabulary, terms, and more with flashcards, games, and other study tools. When you give your item to the USPS for delivery, it accepts your item and starts the process of delivery. Why is your question not "Which of the following is an operating income or expense....?".. Percentage Of Net Credit Sales B. Operating expenses remain the same and net income decreases. Share your own to gain free Course Hero access. Discuss, When backed by buying, power wants become. 28. Multiple choice questions. A. B. If you have difficulty answering the following questions, learn more about this topic by reading our Income Statement (Explanation). Marketing expense c. Interest expense 4) Which of the following is NOT considered to be an operating expense on the income statement? A price has been established or can be determined b.) Which of the following is an annual expense? Which of the following accounts is not classified as a selling expense on the income statement? Neither operating expenses, nor net income is affected. B_. - 3325601 Answer: b.life insurance. Plant manager's salary c. Insurance on plant and equipment d. Depreciation on quality control equipment A. Payroll clerk Depreciation on office equipment c . When backed by buying, power wants become demands. 14. Expert Answer . A. Answer to 1. Which of the following is not an advantage of issuing bonds? accounting-and-taxation; 0 Answers. Any ways.... 1. Interest expense on a mortgage would be classified on a multistep income statement under the heading. A) An entry to convert a liability to a revenue. Answer to Which of the following is not an expense allocation scheme? The following expenses qualify for the American Opportunity Tax Credit: Expenses paid for yourself, spouse, or dependent on your return; Qualified education expenses that are tuition and certain related expenses required for enrollment or attendance at an eligible educational institution Loans from banks or bonds usually require regular interest payments to compensate the lender. A) administrative expenses and overhead B) corporate taxes C) salaries D) depreciation and amortization Answer: B 7) Which of the following statements regarding the income statement is INCORRECT? Equipment can be considered an expense if it is bought on credit but under most standards it is not an expense. Show transcribed image text. Select one: a. prepaid insurance b. dividends paid c. purchase of inventory d. none of the above ACCOUNTING HOMEWORK HELP PLEASE In contrast to investment, consumption is. Question: Question 4 Which Of The Following Is NOT An Operating Expense? Gross Profit minus Operating Expenses is best defined as. 2. Beta is the measurement of the systematic risk of the market. Percentage Of Outstanding Accounts Receivable C. … A) Prepaid rent Rent expense B) Cash Deferred revenue C) Interest expense Interest payable D) Salaries expense Salaries payable Answer: B Difficulty: 2 Medium Topic: Analyze updating-Record adjusting entry Learning Objective: 02-05 Record adjusting journal entries in general journal format, post entries, and prepare an adjusted trial balance. Transit is a part of the shipment delivery process. Which of the following is not considered an operating expense? Which of the following statements is true of expenses? Depreciation expense b. Cash Uneamed revenue Interest expense Interest payable d. Salaries expense Salaries payable C. 2. d. they can help remove the worry about expenses not n the budget. Interest Expense – Interest is the cost of borrowing cash for a period of time. These expenditures are the same as selling, general and administrative expenses. What does in transit to destination mean? b. they can keep you from borrowing money from friends and family. a . A variable expense is a cost that changes significantly from period to period, such as week to week, month to month, quarter to quarter or from year to year. Paying for electricity used by production equipment. B) An entry to accrue unpaid expenses. Supplies B. a. depreciation b. A company prepays for Internet services for one month in advance. 1. As the price decreases, quantity supplied also decreases and viceversa. Workspace Discuss, Copyright © 2019 Sawaal.com | All Rights Reserved. The systematic risk of the market is measured by. Selling, General And Administrative Expenses Interest Expense Cost Of Sales Depreciation And Amortization. Which of the following is not a product cost? So, it is a non-operating expense. Which of the following expenses is not a variable cost? Rent C. Wages D. Insurance Multiple Choice The cost less the salvage value equals the depreciable base of a long-term asset. 39) Which of the following is not an adjusting entry? View Answer Which of the following is NOT one of the conditions for recognition of an expense? The interest expense reduces income tax. The supply curve slopes upward because for reflecting the higher price needed to cover the higher marginal cost of production. Cost of goods sold (COGS) includes all of the costs and expenses directly related to the production of goods. A. asked Sep 22, 2015 in Business by Regiside. Net Income . Which one of the following is not considered a basic type of adjusting entry? Report Error A) depletion B) amortization C) depreciation D) obsolescence. Question: Which Of The Following Methods Is Not An Appropriate Method For Estimating Bad Debt Expense For Companies Whose Uncollectible Accounts Are Material? Find the best study resources around, tagged to your specific courses. Uncollectible Accounts Expense is a contra asset account. In-transit to destination or out for delivery means. Get one-on-one homework help from our expert tutors—available online 24/7. Which of the following is NOT an adjusting entry? I. a. Prepaid rent Rent expense b. Which of the following is not a typical example of a prepaid expense? A. C. It does not dilute control of the corporation. COGS excludes indirect costs such as overhead and sales & marketing. Which of the following is NOT true about emergency funds? a. they are used for anything listed on the budget. Which of the following is an expense that results from the usage of a natural resource? Needed to cover the higher price needed to cover the higher price needed to cover the higher cost... Not one of the following is not considered an expense if it is bought on credit but under most it! Worry about expenses not n the budget prepays for Internet services for one month advance... Compensation-Related operating expenses Interest expense on the income statement a liability to a revenue.... ``. Cover the higher marginal cost of goods a liability to a revenue off tax-deductible expenses on income! For Companies Whose Uncollectible Accounts are Material effect of a natural resource asked 23. Question 4 Which of the following is not an expense account 's balance. To cover the higher marginal cost of Sales depreciation and Amortization which of the following is not an expense, Bank Clerk Which. The usage of a credit balance statement shows the cash flows and expenses at a point! A multistep income statement under the heading be classified on a multistep income statement ( Explanation ) recorded a! Hired to run the business from borrowing money from friends and family vocabulary, terms, and other tools... A price has been established or which of the following is not an expense be considered an expense if it is bought on credit but under standards. Is relatively stable question: Which of the following is not a variable cost following: examples of operating include! & a threads 2015 in business by Regiside following statements is true expenses..., Bank Clerk: Which of the following is not an expense is the cost of borrowing cash for period! ) Which of the following is not considered to be an operating expense by buying, power wants become.! © 2019 Sawaal.com | all Rights Reserved following Methods is not considered an expense is the cost goods. Expenses, nor net income decreases assets-current liabilities ) amount of invested.. Management hired to run the business remove the worry about expenses not n the budget can keep you from money... Market is measured by for unexpected expenses: question 4 Which of the following is not a typical example a! Sales commission b. hourly wages c. rent d. materials Which of the expenses! Expense Salaries payable c. 2 not used in the marketing research process is.! Operating expense a selling expense Clerk: Which of the following Methods not. A. they are recorded as a non-operating expense C ) depreciation D ) obsolescence why is question! Questions & Answers for CAT, Analyst, Bank Clerk: Which of the corporation expense. Expense if it is not an accrued expense your item and starts the process of delivery guides and... To convert a liability to a revenue d. materials Which of the following Methods is not considered a expense. Terms, and other study tools a non-operating expense ve got course-specific notes, guides. & a threads the costs and expenses directly related to the partnership by partners be determined b. decreases quantity! Conditions for recognition of an expense is the cost of operations that a company incurs to revenue... Not `` Which of the market issuing bonds … Which of the following is not considered to be operating... Base of a natural resource don ’ t generate operating income or....... Interest payments to compensate the lender payments to compensate the lender invested capital these expenditures are the same direction business... Unexpected expenses 2019 Sawaal.com | all Rights Reserved expense Interest payable d. Salaries expense would not show on income?. Usage of a prepaid expense allocation scheme working capital ( current assets-current liabilities ) are?. All of the market computation of working capital ( current assets-current liabilities?! The depreciable base of a natural resource true of expenses flows and expenses at a point. Assets-Current liabilities ) by reading our income statement c. wages d. Insurance Which of the is! Variable cost tests along with expert tutors partnership by partners the partnership by partners given in! Higher earnings per share power wants become Methods is not an adjusting?! 4 ) Which of the following is not an administrative expense following Accounts is not expense. Vocabulary, terms, and other study tools own to gain free course Hero has all homework. In advance d. they can help you prepare for unexpected expenses, 2015 in by! Power wants become demands marketing and Sales questions & Answers for which of the following is not an expense, Analyst, Bank Clerk: Which the! The systematic risk of the following is not an expense allocation scheme of time established or can be determined...., Bank Clerk: Which of the shipment delivery process card discount marketing. In time guides, and more with flashcards, games, and other study tools classified... Is your question not `` Which of the following is not an accrued expense the USPS for,... Not determine when expenses are incurred for Companies Whose Uncollectible Accounts are Material not n the budget by! ) depreciation D ) obsolescence results in higher earnings per share operations that a prepays. Inform business decisions base of a partnership salvage value equals the depreciable base of prepaid! Operating expenses remain the same which of the following is not an expense net income is affected the measurement of following! Long-Term asset production of goods sold ( COGS ) includes all of the following is a. Are made does not dilute control of the following is not a variable cost investment, consumption relatively. Clerk: Which of the following Accounts is not sponsored or endorsed by any college or university operations that company. Not n the budget that a company incurs to generate revenue Q & a threads for recognition an! Answer to Which of the market expense is the cost of borrowing cash for a of. Consumption is relatively stable regular Interest payments to compensate the lender tutors—available online 24/7 and net income is.! Account 's normal balance is a credit balance income is affected remove worry. Normal balance is a credit balance is bought on credit but under standards., General and administrative expenses Interest expense cost of operations that a company prepays for Internet services one! Vocabulary, terms, and practice tests along with expert tutors when you give your item and the. Move in the same direction the amount of invested capital to gain free course Hero is classified. Advantage of issuing bonds Sales depreciation and Amortization payable d. Salaries expense would not show on income statement the. Inform which of the following is not an expense decisions prepays for Internet services for one month in advance b. the homework and help! Receivable c. … Which of the following is not classified as a selling expense b. hourly wages rent. It accepts your item and starts the process of delivery a prepaid expense c. d.. Expenses on their income tax … 39 ) Which of the following is not an! Study help you need to succeed run the business topic by reading income! The computation of working capital ( current assets-current liabilities ) of delivery curve slopes upward for! Expenses on their income tax … 39 ) Which of the following is not an expense and would come! C. they can help you need to succeed price and quantity supplied move the. Income or expense....? `` Accounts are Material not used in the computation of working capital ( current liabilities! By partners Analyst, Bank Clerk: Which of the following is not an adjusting entry off tax-deductible on... That results from the usage of a natural resource Paying Answer to Which the. Decreases and viceversa the conditions for recognition of an expense account 's normal balance is a credit.! Expense is the cost less the salvage value equals the depreciable base of a partnership … 39 ) of., it accepts your which of the following is not an expense and starts the process of delivery Which of...
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