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If you r buying a life insurance scheme & paying prm for the same then its a drawing in your books of accounts & not your expense.
If you r buying general insu. For your equipments, furniture, material etc agst theft or loss or any such purpose then it is your admin exp.
If you are insuring goods in transit then only it is selling exp.
Wiki User
∙ 14y ago
Wiki User
∙ 11y agoUnless it says its insurance for the office (administrative) or insurance for drycleaning (dry cleaning expense) it will be counted as an administative expense.
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selling expense
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Admin expense
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selling expense.
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Why salary should be classified as a selling expense?
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Is insurance on inventory a direct expense?
insurance is an indirect expense.............
Is shipping expense selling expense?
yes
