Arizona State University (ASU) BIO201 Human Anatomy And Physiology I Exam 3 Practice Study Guide

Which item is reported as an expense on the income statement?

Dividends Accounts payable Utilities used during the period Common stock issued

Correct Answer:

Utilities used during the period

Explanation:

Utilities consumed in generating revenue are an expense. Dividends are distributions to owners, accounts payable is a liability, and common stock is equity.

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