What is expense?
Expense is an outflow of business’s economic resources resulting from the operational activities such as (selling goods, providing services or exchanging assets) except those that come from owners’ distributed profit.
举一反三
- What type of account is Unearned Revenue (asset, liability, stockholders’ equity, revenue, or expense) and what is its normal balance, respectively?
- After a rapid development at the expense of the environment, what concept has the Chinese government proposed?
- A firm has sales of $3,200, net income of $390, total assets of $4,500, and total equity of $2,750. Interest expense is $50. What is the common-size statement value of the interest expense?
- When an investor understands the income and expense components of the income statement, he or she can appreciate what makes a company profitable.
- 名华慕课: Which of the following be included in period expense? Operating expense Administration expense Financial expense Production cost
内容
- 0
Interest due on a note payable to First National Bank at December 31 equals $125. What adjusting entry is required to accrue this expense?
- 1
The increase of expense should be debited to expense accounts.
- 2
If an expense account is credited, the expense account is increased（）
- 3
The large houses are being painted, but ______. A: of great expense B: at a great expense C: in a lot of expenses D: y high expense
- 4
Accrued expense is most likely recorded by a company if cash is paid:（） A: before expense has been incurred. B: at the same time expense has been incurred. C: after expense has been incurred.