Which of the following is NOT considered an expense when calculating cash payments?

When calculating cash payments, it is important to distinguish between expenses that are incurred in the operations of a business and other types of cash flows. Drawings are amounts taken out of the business by the owners for personal use. While they represent a cash outflow, they do not qualify as an expense related to the business's operational activities.

Expenses such as cash purchases, wages, and loan repayments are all costs associated with running the business. Cash purchases involve spending on goods or services that contribute to revenue generation. Wages are expenses tied to compensating employees for their work, directly affecting the income statement. Repaying loans, although it reduces cash, is related to previous liabilities and is considered a financing activity rather than an operational expense.

Therefore, drawings stand apart from these operational costs and thus are not categorized as an expense in the context of determining cash payments.