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Acceptable business expenses are determined based on the individual company. If the expenses are useful and do not seriously impact a company's bottom line they are acceptable.
Expenses are acceptable for income tax purposes if the employee incurs them wholly and exclusively in the pursuit of the business activity and derives no personal benefit from the receipt of the money.
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What is the money that is left over after all of the business expenses are paid called?
ProfitMoney that is left after all business expenses are paid is called profit.
Define maintenance and other operating expenses?
Operating Expenses are expenses that are incurred while running a business. Maintenance Expense could be considered anything from the cost of maintaining a company vehicle to repairs made on a building or some other type of "maintenance" that is require by the business in order to function at 100%. Many expenses have their own account such as, Utilities Expense, Rent Expense, Insurance Expense, Interest Expense, Supply Expense, just to name a few. Other expense may not have a specific account in which to be recorded, such as Travel Expense, Food Expense (perhaps to entertain a possible client), these expense are often listed under "Other Expenses".
What does nil mean in business terms?
In business terms 'nil' means 'void' or 'zero' means nothing or not acceptable.
What remains after all business expenses have been deducted from sales revenue?
Profit Profit
The money left over after all of a business's expenses ae paid is called a?
profit
When assets are withdrawn from a business by the owners is it considered to be expenses?
cash
Is a homeowners' association considered a business when all that is done are collect dues that are used to share the expenses of the common areas?
No. A HOA is not considered a business.
How do you determine how much child support you get when the father is self employed in New York?
It would be based on his net profit after acceptable business expenses.
What is the definition in expenses in business?
ordinary business expenses
What are out of pocket expenses?
Out of pocket expenses are business expenses for which the individual who accrues these expenses is not reimbursed by the company they are employed by or from the business itself if they are the business owner.
What is Preliminary Expenses?
All the expenses which a business incurred from start of business to actual start of operations of revenue generating activity of business is called preliminary expenses.
Is a parking fee considered a business expense when traveling?
Yes, both parking expenses and toll fees are deductible whether you use the Standard Mileage Allowance or the Actual Expenses method.
Money left after a business pays expenses?
1. Money left after a business pays expenses
What is loss in business?
it is a situation where income is not enough to meet the running expenses(operating expenses) of the business
Where does travel go on income statement?
Travel expenses are expenses as all other normal business expenses and as all other business expenses are part of income statement traveling expenses are also part of income statement.
What is Deferred int expenses?
Deferred int expenses is a term used in accounting for business and finance. It is used to refer to the interest on loans and payments, which is considered an expense that is deferred, or expected to be paid at a later date.
Are accrued expenses assets or liabilities?
Accrued expenses are those expenses the benefit of which has already taken by the business but the payment is not yet cleared that's why it is the liability of business.
