Selling and administrative expenses include which of the following income statement items?
a. Salaries, insurance, interest.
b. Salaries, rent, advertising.
c. Rent, interest, cost of goods.
d. Advertising, research & development, amortization.
Question 2
A special fund maintained to pay relatively small amounts for expenses, assets, or withdrawals is called a Petty Cash Fund.
a. True
b. False
Indicate whether the statement is true or false