Which of the following wouldnotbe included under the account category of expenses within the chart of accounts?A) Cost of goods sold.B) Interest expense.C) Prepaid insurance expense.D) Income tax expense.

Question

Nardia Greenwood · Accepted Answer

Final Answer : C, Explanation :  Prepaid insurance expense is a prepaid asset that will eventually be recognized as an expense, but it does not belong in the account category of expenses in the chart of accounts. The other options are all typical expenses that would be included in this account category.

Which of the following would not be included under the account category of expenses within the chart of accounts?

A) Cost of goods sold.
B) Interest expense.
C) Prepaid insurance expense.
D) Income tax expense.

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Learning Objectives

Learning Objectives

Related questions

Which of the following would not be included under the account category of expenses within the chart of accounts?A) Cost of goods sold.B) Interest expense.C) Prepaid insurance expense.D) Income tax expense.

Definitions

Learning Objectives

Learning Objectives

Related questions

Which of the following would not be included under the account category of expenses within the chart of accounts?

A) Cost of goods sold.
B) Interest expense.
C) Prepaid insurance expense.
D) Income tax expense.