Financial Statements and Balance Sheets Flashcards

1
Q

Selling and Distribution

A

The expenses generated from the sale of inventory and delivering the inventory to the customers eg. Doutful debts, frieght outwards, sales wages

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2
Q

General and Administration

A

Office expenses and expenses that cannot be classified as selling and distribution or financial expenses eg. office wages, telephone

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3
Q

Financial Expense

A

Expenses of raising money for the business, of providing credit to customers and bank charges eg. Interest on loan, bank fee

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