Classifications of Financial Elements

Question 1

Sales

Answer 1

Revenue/Income

Question 2

Fees

Answer 2

Revenue/Income

Question 3

Commission Recieved

Answer 3

Other Income

Question 4

Gain On Sale of Fixed Asset

Answer 4

Other Income

Question 5

Interest Recieved

Answer 5

Other Income

Question 6

Rent Recieved

Answer 6

Other Income

Question 7

Discount Recieved

Answer 7

Other Income

Question 8

Dividends Recieved

Answer 8

Other Income

Question 9

Advertising

Answer 9

Distribution Expense

Question 10

Cartage Outwards

Answer 10

Distribution Expense

Question 11

Commission

Answer 11

Distribution Expense

Question 12

Delivery Expenses

Answer 12

Distribution Expense

Question 13

Depreciation on Shop Fittings

Answer 13

Distribution Expense

Question 14

Depreciation on Delivery Vehicles

Answer 14

Distribution Expense

Question 15

Freight Outwards

Answer 15

Distribution Expense

Question 16

Repairs to Delivery Vehicles

Answer 16

Distribution Expense

Question 17

Repairs and Maintenance (Shop Fittings)

Answer 17

Distribution Expense

Question 18

Sales Wages and Salaries

Answer 18

Distribution Expense

Question 19

Travelling Expenses

Answer 19

Distribution Expense

Question 20

Loss on Sale of Distribution Asset

Answer 20

Distribution Expense

Question 21

Accountancy Fees

Answer 21

Administrative Expense

Question 22

Audit Fees

Answer 22

Administrative Expense

Question 23

Depreciation (Other than Shop Fittings or Delivery Vehicles)

Answer 23

Administrative Expense

Question 24

Electricity

Answer 24

Administrative Expense

Question 25

General Expenses

Answer 25

Administrative Expense

Question 26

Insurance

Answer 26

Administrative Expense

Question 27

Office Expenses

Answer 27

Administrative Expense

Question 28

Postage

Answer 28

Administrative Expense

Question 29

Printing

Answer 29

Administrative Expense

Question 30

Rates

Answer 30

Administrative Expense

Question 31

Rent

Answer 31

Administrative Expense

Question 32

Repairs and Maintenance (Other than to Shop Fittings and Delivery Vehicles)

Answer 32

Administrative Expense

Question 33

Salaries

Answer 33

Administrative Expense

Question 34

Stationary

Answer 34

Administrative Expense

Question 35

Telephone and Tolls

Answer 35

Administrative Expense

Question 36

Vehicle Expenses (Other than Delivery Vehicles)

Answer 36

Administrative Expense

Question 37

Wages

Answer 37

Administrative Expense

Question 38

Donations

Answer 38

Administrative Expense

Question 39

Loss on Sale of Asset

Answer 39

Administrative Expense