Question
______ is the cost of use of things or services for the purpose of generating revenue.
The correct answer is
Expense
The correct answer is option 4. Expense refers to the cost of using assets or services to generate revenue, such as operational costs or overheads incurred by a business in the process of its day-to-day operations.
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Important Questions from Basic accounting principles
______ states that accounting report must belong to a common period and use common unit of measurement and format of reporting.
Which of the following accounting concept eliminates personal biasedness and helps in achieving results that are comparable?
Which of the following given statements are CORRECT?
Which of the following statements are FALSE?
Which of the following statements is TRUE?
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