Which of the following is not true regarding a credit card expense? Multiple Choice Credit card...

Which of the following is not true regarding a credit card expense?

Multiple Choice

Credit card expense may be classified as a "discount" deducted from sales to get net sales.
Credit card expense is not recorded by the seller.
Credit card expense may be classified as an administrative expense.
Credit card expense may be classified as a selling expense.
Credit card expense is a fee the seller pays for services provided by the card company.

Solutions

Expert Solution

Answer B

Credit card expenses is not recorded by the seller.

This statement is incorrect as in the case of credit card expenses has to be recorded by the seller

ekkarill92 answered 1 year ago

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