On an income statement, expenses, such as professional salaries, utilities, office supplies, rent, and insurance, are called _____ expenses.
A)general and administrative
B)functional
C)managerial
D)miscellaneous
E)basic office

Question

Quizplus · Accepted Answer

These expenses are categorized as general and administrative expenses on an income statement. They are the costs related to the overall operations of a company that are not directly tied to a specific function like manufacturing, production, or sales.

On an Income Statement, Expenses, Such as Professional Salaries, Utilities