The operating expense section of an income statement for a wholesaler would NOT include
A) office supplies expense.
B) telephone expense.
C) cost of goods sold.
D) insurance expense.

Name: The operating expense section of an income statement for a wholesaler would NOT include A) office supplies expense. B) telephone expense. C) cost of goods sold. D) insurance expense.
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Question

Quizplus · Accepted Answer

Cost of goods sold is not an operating expense. It is a deduction from revenue to arrive at gross profit.

The Operating Expense Section of an Income Statement for a Wholesaler