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Question
Decrease in owner's equity arising from delivery of goods or rendering of services to customers is termed as ________.
Decrease in owner's equity arising from delivery of goods or rendering of services to customers is termed as ________.
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Solution
The correct option is C Expenses
An expense is a cost that occurs as part of a company's operating activities during a specified accounting period. decrease in owner's equity arising from delivery of goods or rendering of services to customers is termed as expenses. A retailer will likely incur the following expenses: the cost of goods sold, commissions earned by the sales staff, rent for the retail space, the cost of the electricity used etc.
An expense is a cost that occurs as part of a company's operating activities during a specified accounting period. decrease in owner's equity arising from delivery of goods or rendering of services to customers is termed as expenses. A retailer will likely incur the following expenses: the cost of goods sold, commissions earned by the sales staff, rent for the retail space, the cost of the electricity used etc.
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