A hotel room that goes unrented and an airline seat that goes unsold are both examples of perishable inventory in services

________ are the expenses that occur in an entity's major line of business

A) Interest expense B) Interest revenue C) Operating expenses D) Loss on sale of plant asset

Which one of the following is an accurate description of the allowance for bad debts?

A) Contra account B) Liability account C) Revenue account D) Expense account