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
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
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