The cost of assets used up in the process of earning revenue are considered:

Name: The cost of assets used up in the process of earning revenue are considered:
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Assets that are used up or consumed in the process of earning revenue are considered expenses. Expenses are subtracted from revenue on the income statement to determine net income. Examples of expenses include cost of goods sold, salaries and wages expense, rent expense, and depreciation expense.

The Cost of Assets Used Up in the Process of Earning