Which of the following items is reported as an expense on the income statement?

Name: Which of the following items is reported as an expense on the income statement?
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Question

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Cost of goods sold is the expense incurred by a business in producing or purchasing the merchandise that it sells. Dividends declared and paid are distributions of profits to shareholders, and accounts payable is a liability that represents the amount the business owes to its suppliers for purchases made on credit.

Which of the Following Items Is Reported as an Expense