Accountants refer to a reduction in owner's equity following the consumption of resources in connection with making sales as:

Question

Quizplus · Accepted Answer

The term used in this scenario is an "expense" as it refers to the consumption of resources in connection with making sales and is typically recorded on the income statement as a reduction in owner's equity. The other choices do not accurately reflect this scenario.

Accountants Refer to a Reduction in Owner's Equity Following the Consumption