53) Cost of Goods Sold includes A) Freight-in. B) Freight-out. C) Other Income. D) Net Sales 54) Freight-in is A) a Cost of Selling Goods. B) a Cost of Purchasing Goods. C) recorded as an Operating Expense. D) recorded as an asset 55) Which of the following is NOT an operating expense? A) Payroll Tax Expense B) Interest Expense C) Postage Expense D) Salaries Expense 56) What is the name of the revenue account used by merchandise companies? A) Sales B) Merchandise Fees C) Merchandise Inventory D) Capital 57) Selling expenses include A) Advertising Expense. B) Rent Expense. C) Office Supplies Expense. D) All of the above are correct. 58) Administrative Expenses include A) Insurance Expense. B) Delivery Expense. C) Depreciation Expense. D) None of the above are correct. 18) Other Income is used to A) record income from sales. B) record any revenue from activities other than sales. C) record all revenue. D) record owner investments. 60) Other Expense is used to record A) selling expenses. B) administrative expenses. C) operating expenses. D) non-operating expenses