In your opinion, What account type is the cost of sales account?

Question

1. Revenue

2. Liability

3. Equity

4. Asset

5. Expense

mohamed soliman · Answer

5. Expense........................

Michael Lagunday · Answer

My answer is5. Expense.

Cost of sales is an expense account. It is incurred when goods have been sold.

Sayed Rubab Sayed · Answer

My answer is EXPENSE.....................................

Brij Mohan · Answer

Cost of goods sold = opening inventory + purchases - closing inventory. And it is considered as a expense account

Syed Arsalan Ghani · Answer

An expenses is the type of sales account thats keep record of an organisation

mohamed salah · Answer

Cost of goods sold is considered an expense in accounting and it can be found on a financial report called an income statement.

Shamna Mohammed Ali · Answer

COST OF SALES IS AN EXPENSE ACCOUNT

Anitta Shaju · Answer

Cost of sold is considered as an expense in accounting .

Shahbaz Hayder · Answer

Option5 "Expense" is the right answer.

Ahmer Zamir · Answer

The Option5) is correct Expense

Mehboob Ali Laghari · Answer

Expense is the right answer