Get one-on-one homework help from our expert tutors—available online 24/7. Show transcribed image text. 2. Which of the following is not considered a legitimate expense of a partnership? asked Sep 23, 2015 in Business by Daligirl. In-transit to destination or out for delivery means. 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. Selling, General And Administrative Expenses Interest Expense Cost Of Sales Depreciation And Amortization. These expenditures are the same as selling, general and administrative expenses. COGS excludes indirect costs such as overhead and sales & marketing. Net sales decrease and net income decreases. Which of the following is not a product cost? 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. C. Paying B) An entry to accrue unpaid expenses. In contrast to investment, consumption is. 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. B. This problem has been solved! a. they are used for anything listed on the budget. Which one of the following is not considered a basic type of adjusting entry? 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. Which of the following is an annual expense? We’ve got course-specific notes, study guides, and practice tests along with expert tutors. Depreciation on assets contributed to the partnership by partners. Office salaries expense would not come under a selling expense. Solution for Which of the following is not an accrued expense? 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? Marketing and Sales Questions & Answers for CAT, Analyst,Bank Clerk : Which of the following is not a selling expense? a. Prepaid expense b. A price has been established or can be determined b.) A. Answer to Which of the following is not an expense allocation scheme? 4) Which of the following is NOT considered to be an operating expense on the income statement? d. they can help remove the worry about expenses not n the budget. Neither operating expenses, nor net income is affected. Which of the following does not correctly describe the effect of a credit card discount? The lawn maintenance… 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? Which of the following is NOT an adjusting entry? c. they can help you prepare for unexpected expenses. Course Hero is not sponsored or endorsed by any college or university. Gross Profit minus Operating Expenses is best defined as. b. they can keep you from borrowing money from friends and family. Net sales decrease and gross profit decreases. 0 votes. Which of the following is not a typical example of a prepaid expense? asked Sep 22, 2015 in Business by Regiside. B. Expert Answer . … a. sales commission b. hourly wages c. rent d. materials It is less risky to the issuing corporation. Which of the following is not considered an operating expense? accounting-and-taxation; 0 Answers. Select one: a. prepaid insurance b. dividends paid c. purchase of inventory d. none of the above ACCOUNTING HOMEWORK HELP PLEASE 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. Any ways.... 1. A) An entry to convert a liability to a revenue. 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