QQuestionAccounting
QuestionAccounting
Which is not an expense account?
A. Repairs expense
B. Rent expense
C. Accrued expenses
D. Advertising expense
E. Interest expense
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Answer
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Step 1: Understand the question
The question asks us to identify the option that is not an expense account. Expense accounts are accounts in accounting that record costs associated with a company's operations.
Step 2: Review the options
A. Repairs expense - This is an expense account as it records the cost of repairs made to company assets. B. Rent expense - This is an expense account as it records the cost of renting property, plant, or equipment. C. Accrued expenses - This is an expense account as it records liabilities that have been incurred but not yet paid. D. Advertising expense - This is an expense account as it records the cost of advertising and promotional activities. E. Interest expense - This is an expense account as it records the cost of borrowing funds from external sources.
Final Answer
Accrued expenses.
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