Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Accounting 2.3 > Classifications of Financial Elements > Flashcards

Classifications of Financial Elements Flashcards

1
Q

Sales

A

Revenue/income

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Fees

A

revenue/income

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Commission Received

A

Other Income

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Gain on Sale of Asset

A

Other Income

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Interest Received

A

Other Income

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Rent Received

A

Other Income

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Dividends Received

A

Other Income

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Discounts Received

A

Other Income

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Advertising

A

Distribution Costs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Cartage Outwards

A

Distribution Costs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Commission

A

Distribution Costs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Delivery Expenses

A

Distribution Costs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Depreciation on Shop Fittings

A

Distribution Costs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Depreciation on Delivery Vehicles

A

Distribution Costs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Freight Outwards

A

Distribution Costs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Repairs to Delivery Vehicles

A

Distribution Costs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Repairs to Maintenance

A

Distribution Costs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Sales, Wages, and salaries

A

Distribution Costs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Travelling Expenses

A

Distribution Costs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Loss on sale of distribution asset

A

Distribution Costs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Accountancy Fees

A

Administrative Expenses

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Audit Fees

A

Administrative Expenses

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Depreciation (Other than shop fittings and or delivery vehicles)

A

Administrative Expenses

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Electricity

A

Administrative Expenses

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

General Expenses

A

Administrative Expenses

26
Q

Insurance

A

Administrative Expenses

27
Q

Office Expenses

A

Administrative Expenses

28
Q

Postage

A

Administrative Expenses

29
Q

Printing

A

Administrative Expenses

30
Q

Rates

A

Administrative Expenses

31
Q

Rent

A

Administrative Expenses

32
Q

Repairs and Maintenance (other than to Delivery vehicles and Shop fittings

A

Administrative Expenses

33
Q

Salaries

A

Administrative Expenses

34
Q

Stationary

A

Administrative Expenses

35
Q

Telephone and Tolls

A

Administrative Expenses

36
Q

Wages

A

Administrative Expenses

37
Q

Donations

A

Administrative Expenses

38
Q

Loss and sale of an asset

A

Administrative Expenses

39
Q

Vehicle Expenses (other than Delivery vehicles

A

Administrative Expenses

40
Q

Interest on Loan

A

Finance Costs

41
Q

Interest-overdraft

A

Finance Costs

42
Q

Interest- Hire Purchases

A

Finance Costs

43
Q

Bank (if a positive balance)

A

Current Asset

44
Q

Petty Cash

A

Current Asset

45
Q

Accounts Receivable

A

Current Asset

46
Q

Prepayments

A

Current Asset

47
Q

Accrued Revenue

A

Current Asset

48
Q

Closing Inventories

A

Current Asset

49
Q

Equipment

A

Property Plant & Equipment (Non-current asset)

50
Q

Buildings

A

Property Plant & Equipment (Non-current asset)

51
Q

Property

A

Property Plant & Equipment (Non-current asset)

52
Q

Vehicles

A

Property Plant & Equipment (Non-current asset)

53
Q

Plant (Machinery)

A

Property Plant & Equipment (Non-current asset)

54
Q

Shares in Other Companies

A

Investment (Non-current asset)

55
Q

Long term monies held in investment accounts

A

Investment (Non-current asset)

56
Q

Debentures

A

Investment (Non-current asset)

57
Q

Good Will

A

Intangible Asset (Non-current asset)

58
Q

Patents

A

Intangible Asset (Non-current asset)

59
Q

Royalties

A

Intangible Asset (Non-current asset)

60
Q

Research and Development

A

Intangible Asset (Non-current asset)

Accounting 2.3 (2 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions