Which type of account is cost of goods sold?
A) An asset account
B) A liability account
C) An expense account
D) An income account

Name: Which type of account is cost of goods sold? A) An asset account B) A liability account C) An expense account D) An income account
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Question

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Cost of goods sold is an expense account that reflects the direct costs of producing or acquiring the goods sold by a company. It includes the cost of materials, labor, and any other expenses associated with the production of goods sold.

Which Type of Account Is Cost of Goods Sold