The balance in the property tax expense account is most similar to:
A) depreciation expense.
B) insurance expense.
C) compensation expense.
D) utilities expense.

Question

Quizplus · Accepted Answer

The property tax expense account is an ongoing expense that is required by law and is similar to insurance expense, as both are non-operating expenses that are necessary for the proper functioning of a business or property. Depreciation expense, compensation expense, and utilities expense are considered operating expenses that are directly related to the day-to-day operations of a business.

The Balance in the Property Tax Expense Account Is Most