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if Commission is received then it is revenue but if commission is paid then it is expense, if commission is receivable then it is asset while if it is payable then it is liability.
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Is commission a selling or administrative expense?
If commission is paid on selling the product then it is selling expense .
Is sales revenue an expense or asset?
Sales is a revenue not an expense or asset while difference between sales and expense is profit which is liability for business.
What is between revenue and expenditure?
revenue is income and expenditure is an expense
Is sales commission an expense or cost of sales?
Sales commission is a Cost of sales. But the salary of a sales agent is an expense.
What is revenue minus net income?
EXpense
The entry closing the Expense and Revenue Summary is a?
The entry closing the Expense and Revenue Summary is a?
Is commission a selling or administrative expense?
If commission is paid on selling the product then it is selling expense .
Is sales revenue an expense or asset?
Sales is a revenue not an expense or asset while difference between sales and expense is profit which is liability for business.
What is between revenue and expenditure?
revenue is income and expenditure is an expense
Is commission received a revenue?
It is a source of income/revenue.
Is sales commission an expense or cost of sales?
Sales commission is a Cost of sales. But the salary of a sales agent is an expense.
What kind of expense is rent expense?
Rent expense is a Revenue expense and not a capital expense. It is a revenue expense because it recurs from year to year and is not an expense in purchasing a fixed asset. It is classified as a revenue expense also because it features in the income statement of each year and following the principle of accruals, the accountant must, make the necessary end of period adjustments to make sure that the the amount of rent expense that should have paid is charged against revenue and not just the actual cash paid.
Whats the antonym for revenue?
Expense.
Is sales commission a current liability or an expense?
If sales commission is payable in future time then it is current liability but if it is paid already then it is expense.
What is revenue minus net income?
EXpense
Would costs incurred for advertising be considered revenue or expense?
it is considered as a deferred expense.
Is a sells commission a variable expense?
If amount of sales commission is fixed and not base on number of units sold then it is fixed expense and vice versa.
