Asked by Marvelous Abraham on May 09, 2024
Verified
Which of the following is an operating expense?
A) Salaries Expense
B) Payroll Tax Expense
C) Freight-in
D) Both A and B are correct.
Payroll Tax Expense
The cost to employers that includes the total of the employer’s FICA OASDI, FICA Medicare, FUTA, and SUTA taxes.
Salaries Expense
An expense account recording the total amount paid to employees for services rendered during a specific period.
Freight-in
Costs associated with transporting inventory to the company, which are typically added to the cost of inventory.
- Distinguish between operating expenses and other types of expenses.
Verified Answer
Learning Objectives
- Distinguish between operating expenses and other types of expenses.
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