Which of the following is an expense?
A) Prepaid insurance
B) Dividends paid
C) Purchase of inventory
D) Wages owing but not paid at the end of the accounting period

Question

Quizplus · Accepted Answer

Wages owing but not paid at the end of the accounting period are considered an expense because they represent the cost of labor that has been used but not yet paid for, affecting the income statement.

Which of the Following Is an Expense