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1. Asset
2. Expense
3. Liability
4. Revenue
The cost of goods sold is reported on the income statement and can be considered as an expense of the accounting period. By matching the cost of the goods sold with the revenues from the goods sold, the matching principle of accounting is achieved. Answer: Expense
b- Expense
It's raise the value of expenses in the income statment
COST OF GOODS SOLD IS CLASSIFIED WITH EXPENSE ACCOUNT.
The cost of goods sold is reported on the income statement and can be considered as an expense of the accounting period.
Costs of Goods Sold is an expense
cost of goods sold is classified as an expense account
Cost of goods sold will be classified as EXPENSES
Option2 is the right answer.
Cost of goods sold are Expense.
