Answer to Which of the following is not an administrative expense ? 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. Paying for electricity used by production equipment. Transit is a part of the shipment delivery process. Depreciation on assets contributed to the partnership by partners. What does in transit to destination mean? COGS excludes indirect costs such as overhead and sales & marketing. The lawn maintenance… Which of the following is NOT one of the conditions for recognition of an expense? Paying a dividend. See the answer. Which of the following is NOT an adjusting entry? 2. Which of the following is NOT used in the computation of working capital (current assets-current liabilities)? Depreciation on office equipment c . Which of the following is not considered an operating expense? C. It does not dilute control of the corporation. Which of the following is not considered a legitimate expense of a partnership? Find the best study resources around, tagged to your specific courses. 28. Examples of operating expenses include the following: Examples of Compensation-Related Operating Expenses These expenditures are the same as selling, general and administrative expenses. B. a. they are used for anything listed on the budget. Course Hero is not sponsored or endorsed by any college or university. Which of the following accounts is not classified as a selling expense on the income statement? Which of the following is not a typical example of a prepaid expense? d. they can help remove the worry about expenses not n the budget. In contrast to investment, consumption is. These payments don’t generate operating income, so they are recorded as a non-operating expense. Supplies B. A. Paying for supplies. Which one of the following is not considered a basic type of adjusting entry? The systematic risk of the market is measured by. C. Salaries for management hired to run the business. Which of the following is not a selling expense? Neither operating expenses, nor net income is affected. The interest expense reduces income tax. 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? 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. B_. Ask your own questions or browse existing Q&A threads. This problem has been solved! Net sales decrease and gross profit decreases. Interest Expense – Interest is the cost of borrowing cash for a period of time. 14. A. Equipment can be considered an expense if it is bought on credit but under most standards it is not an expense. B. D. Supplies used in the partners' offices. In-transit to destination or out for delivery means. Percentage Of Outstanding Accounts Receivable C. … Multiple choice questions. A) Expenses increase equity, so an expense account's normal balance is a credit balance. a. I. a. Prepaid rent Rent expense b. Price and quantity supplied move in the same direction. Which of the following is an expense that results from the usage of a natural resource? Businesses can write off tax-deductible expenses on their income tax … A. A) An entry to convert a liability to a revenue. a.) When you give your item to the USPS for delivery, it accepts your item and starts the process of delivery. The relationship between quantity supplied and price is. Course Hero has all the homework and study help you need to succeed! Depreciation is not a a part of operating expense. Answer to 1. 1. Selling, General And Administrative Expenses Interest Expense Cost Of Sales Depreciation And Amortization. View Answer A) depletion B) amortization C) depreciation D) obsolescence. Which of the following statements is not correct? asked Sep 22, 2015 in Business by Regiside. 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. Beta is the measurement of the systematic risk of the market. Report Error Expert Answer . Which of the following expenses is not a variable cost? 33. Factory supervisor ’ s salary b . The first step in the marketing research process is to. - 3325601 Answer: insurance. Which of the following is an annual expense? B) Expenses decrease equity, so an expense account's normal balance is a credit balance. Why is your question not "Which of the following is an operating income or expense....?".. D. It generally results in higher earnings per share. Cost of goods sold (COGS) includes all of the costs and expenses directly related to the production of goods. Which of the following is an expense? 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. 4) Which of the following is NOT considered to be an operating expense on the income statement? Percentage Of Net Credit Sales B. Solution for Which of the following is not an accrued expense? 0 votes. Marketing Research Process is a systematic method for planning and executing market research projects to inform business decisions. Workspace Gross Profit minus Operating Expenses is best defined as. … 39) Which of the following is not an adjusting entry? View answer Marketing and Sales Questions & Answers for CAT, Analyst,Bank Clerk : Which of the following is not a selling expense? (p. 91) Which of the following is not an expense and would not show on income statement? asked Sep 23, 2015 in Business by Daligirl. b. they can keep you from borrowing money from friends and family. A) The income statement shows the cash flows and expenses at a given point in time. Uncollectible Accounts Expense is a contra asset account. Select one: a. prepaid insurance b. dividends paid c. purchase of inventory d. none of the above ACCOUNTING HOMEWORK HELP PLEASE Rent C. Wages D. Insurance A. When backed by buying, power wants become demands. Multiple Choice The cost less the salvage value equals the depreciable base of a long-term asset. Question: Question 4 Which Of The Following Is NOT An Operating Expense? Cash Uneamed revenue Interest expense Interest payable d. Salaries expense Salaries payable C. 2. 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 a . Plant manager's salary c. Insurance on plant and equipment d. Depreciation on quality control equipment Satisfaction guaranteed! Which of the following does not correctly describe the effect of a credit card discount? 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. Which of the following is NOT true about emergency funds? Operating expenses are those expenditures that a business incurs to engage in activities not directly associated with the production of goods or services. Get one-on-one homework help from our expert tutors—available online 24/7. Answer to Which of the following is not an expense allocation scheme? (p. 91) Which of the following is not an expense and would not show on income statement? Which of the following expenses would not appear in Mallcentral's cash budget? Payroll clerk A. accounting-and-taxation; 0 Answers. So, it is a non-operating expense. a. Prepaid expense b. Advertising expense b. We’ve got course-specific notes, study guides, and practice tests along with expert tutors. Which of the following is not an advantage of issuing bonds? a. As the price decreases, quantity supplied also decreases and viceversa. Which of the following statements is true of expenses? Start studying Accounting. An expense is the cost of operations that a company incurs to generate revenue. 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 a. depreciation b. Question: Which Of The Following Methods Is Not An Appropriate Method For Estimating Bad Debt Expense For Companies Whose Uncollectible Accounts Are Material? Operating expenses remain the same and net income decreases. Discuss, When backed by buying, power wants become. Discuss, Copyright © 2019 | All Rights Reserved. Net sales decrease and net income decreases. Show transcribed image text. Loans from banks or bonds usually require regular interest payments to compensate the lender. B. 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." Interest expense is the most common non-operating expense. In contrast to investment, consumption is relatively stable. c. they can help you prepare for unexpected expenses. A. The supply curve slopes upward because for reflecting the higher price needed to cover the higher marginal cost of production. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Interest expense. Interest expense on a mortgage would be classified on a multistep income statement under the heading. If you have difficulty answering the following questions, learn more about this topic by reading our Income Statement (Explanation). Any ways.... 1. Office salaries expense would not come under a selling expense. 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. When payments are made does not determine when expenses are incurred. C. Paying Interest expense. Interest paid to partners based on the amount of invested capital. Share your own to gain free Course Hero access. Depreciation expense b. Marketing expense c. Interest expense Which of the following is not a product cost? a. sales commission b. hourly wages c. rent d. materials A price has been established or can be determined b.) B) An entry to accrue unpaid expenses. Report Error Net Income . It is less risky to the issuing corporation. A company prepays for Internet services for one month in advance.

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