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What does expense item mean?

Updated: 9/18/2023
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Q: What does expense item mean?
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Is Section 179 deduction treated as an expense item?

It is depreciation. Depreciation, or cost recovery, is a method of taking the cost of an item as an expense over its usefull life.


Give you some examples of selling expense?

Selling expense is any type of expense incurred to try to sell an item. Advertising, holding fees, and the purchase price that you paid for the item are all selling expenses.


What item is not a reimbursable expense when using your travel card?

Gifts


What item is big?

A big-ticket item is a luxury item, perhaps one of significant physical size, but primarily of great expense.


Would accumulated depreciation be set up as an expense account or other?

It would not be an expense. It would be a line item on the balance sheet, not sure which line item it would fall under.


What is a big-ticket item?

A big-ticket item is a luxury item, perhaps one of significant physical size, but primarily of great expense.


What is the verb of the noun expense?

The word 'expense' is both a noun and a verb.The verb to 'expense' means to offset an item of expenditure against taxable income; to charge something to an expense account; a word for an action.


What is the difference between value and cost?

value is the market price of an item cost in the expense incurred to obtain an item


What item is not a reimbursable expense when using your travel charge card?

Gifts


Do you capitalize freight charges on equipment?

No. Freight charges are an expense item.


What is an example of a variable expense?

Any expense which is varying with levels of production is a variable expense. For example, with more production, expenses on raw materials will also increase. Consumption of raw material , thus , is a variable expense.


If you have a requirement to purchase equipment that was previously developed at Government expense and sold exclusively to the military. This type of item is?

You have a requirement to purchase equipment that was previously developed at Government expense and sold exclusively to the military. This type of item is: