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