Which of the following items are expenses? I. Paying for next accounting period’s rent II. Buying inventory in cash III. Paying unpaid wages, which relate to work completed in the previous accounting period IV. Purchasing a building in cash V. Paying off a bank loan     Select one: a. None of I - V are expenses. b. All of I - V are expenses. c. I, II, III d. II and IV e. I, II, III, IV f. I and III

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.