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Which of the following accounts would not be included on the income statement of a service business that uses accrual-based accounting?

A. Depreciation Expense
B. Supplies Expense
C. Insurance Expense
D. Cost of Goods Sold Expense



Answer :

GinnyAnswer

Final answer:

Depreciation Expense is not required on the income statement of a service business using accrual accounting.


Explanation:

Depreciation Expense would not be necessary to be included on the income statement of a service business that uses accrual based accounting. Depreciation is associated with the allocation of the cost of long-term assets over their useful lives and is not directly related to the service business's current operations.


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