Which of the following is considered to be an expense on the income statement?

A) Accounts payable.
B) Notes payable.
C) Wages payable.
D) Cost of goods sold.

Question

Which of the following is considered to be an expense on the income statement?A) Accounts payable.B) Notes payable.C) Wages payable.D) Cost of goods sold.

Angela Harris · Accepted Answer

Final Answer : D, Explanation :  Cost of goods sold (COGS) is considered to be an expense on the income statement, as it represents the direct costs of producing the goods or services sold by a company. Accounts payable, notes payable, and wages payable are all liabilities and not expenses.

Which of the following is considered to be an expense on the income statement?

A) Accounts payable.
B) Notes payable.
C) Wages payable.
D) Cost of goods sold.

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