0
What are expenses that are incurred directly or entirely in connection with the sale of merchandise called?
Wiki User
∙ 11y agoWant this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Expenses that are incurred directly or entirely in connection with the sale of merchandise are classified as?
Selling Expenses
In terms of liquidity merchandise inventory is more liquid than prepaid expenses?
More liquid than prepaid expenses
What is the connection between profit costs and expenses?
Profit, costs, and expenses are important within any business' profit and loss statements. The connection is that anything that is more than the costs and expenses of a product or service offered by a business is profit.
What is meant by selling expenses?
Selling Expenses are the expenses directly related to producing sales. Typical Selling Expenses would be Advertising and Salesman's Commissions.
In a merchandise business sales minus operating expenses equals net income?
short answer is Yes but you have to add in cost of merchandise sold. Here is the formula that you useMerchandise BusinessSales - Cost of Merch Sold = Gross profitGross profit - Operating expenses=Net Incomewhereas Service IndustryFees Earned- Operating ExpensesGive you Net Income
Expenses that are incurred directly or entirely in connection with the sale of merchandise are classified as?
Selling Expenses
In terms of liquidity merchandise inventory is more liquid than prepaid expenses?
More liquid than prepaid expenses
What is the connection between profit costs and expenses?
Profit, costs, and expenses are important within any business' profit and loss statements. The connection is that anything that is more than the costs and expenses of a product or service offered by a business is profit.
What is meant by selling expenses?
Selling Expenses are the expenses directly related to producing sales. Typical Selling Expenses would be Advertising and Salesman's Commissions.
In merchandise business sales minus operating expenses equals net income is this statement true or false?
False
In a merchandise business sales minus operating expenses equals net income?
short answer is Yes but you have to add in cost of merchandise sold. Here is the formula that you useMerchandise BusinessSales - Cost of Merch Sold = Gross profitGross profit - Operating expenses=Net Incomewhereas Service IndustryFees Earned- Operating ExpensesGive you Net Income
What is the difference between miscellaneous expense and other expenses?
Miscellaneous expenses means small sundry expenses of business while other expenses means expenses which are not directly related to the primary operations of business.
Does sales minus cost of merchandise sold minus operating expenses plus or minus other income and expense equal net income?
Yes.
What is a business profit-and-loss statement?
This statement is a projection of the sales expected in a given period of time, the cost of the merchandise that will be sold, and the operating expenses of the business.
In the buyers records the purchase of merchandise on account would it increase or decrease assets expenses liabilities?
Anything bought on account will have an impact on two sides of the accounting equation. Since we "purchased" the merchandise we are receiving, therefore we will Increase our assets (merchandise), since we purchased this item on "account" we will also increase our liabilities (account payable).
What is the difference between direct expenses and indirerect expenses?
Direct expenses are those which has direct influence in production for example labor. material, and which cost is directly included in cost of goods sold. But indirect cost is not directly included in cost of goods sold.It treat as a FOH, for example nuts, gum etc.
Can you write off private school tuition for my children?
You can only write off post secondary school expenses that are contributed directly to education expenses.
