Question 1.16 Which of the following is not an example of an expense account? Wages expense...
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Question 1.16 Which of the following is not an example of an expense account? Wages expense O Advertising expense O Prepaid insurance expense Rent expense Question 1.17 Expenses are: incurred only when cash is paid. increases to owner's equity. costs incurred to generate revenues. Orecorded as credits in journal entries. Question 1.18 Revenue accounts would include all of the following except: services revenue. gain on sale of assets. unearned revenue. O interest revenue. Question 1.16 Which of the following is not an example of an expense account? Wages expense O Advertising expense O Prepaid insurance expense Rent expense Question 1.17 Expenses are: incurred only when cash is paid. increases to owner's equity. costs incurred to generate revenues. Orecorded as credits in journal entries. Question 1.18 Revenue accounts would include all of the following except: services revenue. gain on sale of assets. unearned revenue. O interest revenue.
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Solution to 116 An expense is the cost incurred to earn business revenue Expenses are deducted from ... View the full answer
Related Book For
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
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