Classifications of Financial Elements Flashcards

(60 cards)

1
Q

Sales

A

Revenue/Income

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2
Q

Fees

A

Revenue/Income

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3
Q

Commission Received

A

Other Income

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4
Q

Gain on Sale of a fixed asset

A

Other Income

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5
Q

Interest Received

A

Other Income

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6
Q

Rent Received

A

Other Income

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7
Q

Discount Received

A

Other Income

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8
Q

Dividends Received

A

Other Income

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9
Q

Advertising

A

Distribution Expenses

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10
Q

Cartage Outwards

A

Distribution Expenses

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11
Q

Commission

A

Distribution Expenses

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12
Q

Delivery Expenses

A

Distribution Expenses

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13
Q

Depreciation on Shop Fittings

A

Distribution Expenses

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14
Q

Depreciation on Delivery Vehicles

A

Distribution Expenses

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15
Q

Freight Outwards

A

Distribution Expenses

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16
Q

Repairs to Delivery Vehicles

A

Distribution Expenses

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17
Q

Repairs and Maintenance(Shop Fittings)

A

Distribution Expenses

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18
Q

Sales Wage and Salaries

A

Distribution Expenses

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19
Q

Travelling Expenses

A

Distribution Expenses

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20
Q

Loss on Sale of Distribution Asset

A

Distribution Expenses

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21
Q

Accounting Fees

A

Administrative Expenses

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22
Q

Audit Fees

A

Administrative Expenses

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23
Q

Depreciation (Other than Shop Fittings or Delivery Vehicles

A

Administrative Expenses

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24
Q

Electricity

A

Administrative Expenses

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25
General Expenses
Administrative Expenses
26
Insurance
Administrative Expenses
27
Office Expenses
Administrative Expenses
28
Postage
Administrative Expenses
29
Printing
Administrative Expenses
30
Rates
Administrative Expenses
31
Rent
Administrative Expenses
32
Repairs and Maintenance
Administrative Expenses
33
Salaries
Administrative Expenses
34
Stationery
Administrative Expenses
35
Telephone and Tolls
Administrative Expenses
36
Vehicle Expenses
Administrative Expenses
37
Wages
Administrative Expenses
38
Donations
Administrative Expenses
39
Loss on Sale of Asset
Administrative Expenses
40
Bank
Current Assets
41
Petty Cash
Current Assets
42
Accounts Receivable
Current Assets
43
Prepayments
Current Assets
44
Accrued Revenue
Current Assets
45
Closing Inventories
Current Assets
46
Buildings
Plant Property Equipment
47
Equipment
Plant Property Equipment
48
Property
Plant Property Equipment
49
Vehicles
Plant Property Equipment
50
Plant(Machinery)
Plant Property Equipment
51
Shares
Investment Assets
52
Long term monies
Investment Assets
53
Debentures
Investment Assets
54
Goodwill
Intangible Assets
55
Patents
Intangible Assets
56
Royalties
Intangible Assets
57
Research and Development Costs
Intangible Assets
58
Interest on Loan
Financial Expenses
59
Interest on Overdraft
Financial Expenses
60
Interest on Hire Purchases
Financial Expenses