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What expense category could be eliminated through good financial planning?
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What does the term essential expense mean in financial terms?
An essential expense is an expense that is necessary, for example rent or salary. It is something that cannot be gotten rid of or trimmed.
What feasibility determines if the project is an acceptable financial risk and if the organization can afford the expense and time needed to complete the project?
organizational
What is an asset expiration?
An expired asset is an expense. You can save time by deducting expired assets from your financial accounts and manage information with a digital asset manager.
Is depreciation expense an asset or liability?
Depreciation expense is neither an asset or liability. It is an expense.
Is depreciation expenses a non-cash expense?
is depreciation expense a non-cash expense
When to remove bad debt expense?
The bad debt expense is generally removed at the end of the financial year, as it may classify as a deductible item when reporting tax at the end of the financial year.
What does the term essential expense mean in financial terms?
An essential expense is an expense that is necessary, for example rent or salary. It is something that cannot be gotten rid of or trimmed.
Should an organizer or planner qualify as a business expense?
Wedding planning can be a business expense - it is the same as business or management consultation or production services.
What is the difference between direct expense and indirect expense in financial account?
give the full chart of the direct and indirect expenses . detail about this
Where do the Maintenance expense go on the financial statement?
Maintence Expense is just like any other expense and will be reported on the income statement and deducted from Gross Income to obtain Net Income...
How is Interest Expense with a credit balance classified in the financial statements?
An Interest Expense with a credit balance is reclassified as Interest Payable on the Balance Sheet.
Where does utilities expense appear on the financial statement?
It typically falls on the income statement under general and administrative expenses.
Depreciation expense appears on what financial statement?
Income Statement
What are Opinions of Veterans Financial Inc?
This is a financial services company that offers free assistance to veteran families who need elder care. Some families they assist use them for financial planning, but the vast majority do not need such services. Products they offer clients include annuities, life insurance, final expense policies and long term care insurance. Regardless of the family using them for financial products, they help all families at no cost.
Is rent expense an current asset or non current assets?
Rent expense is an expense. If you pre-pay it (prepaid expense), it is a current asset, because you are generally only going to be prepaying it for like a month or so in advance.. Current asset - financial benefits received within 12 months. Non-current asset - financial benefit received beyond 12 months.
What is a accrued expense?
Accrued expenses arethe expenses which are not yet paid during the financial year for the services rendered during the financial year.
Is accrued expense a financial liability?
If you are doing adjusting entries, an accrued expense will affect a balance sheet account (payable) and an income statement account (expense). Such as accrued interest at the end of year would be: Interest Expense (Debit) Interest Payable (Credit)
