common fixed expense

Q: Utility expense

A: Energy, water, and trash disposal are all utilities that are used in the home or business and incur…

Q: An example of an expense classifi cation by function is: B . interest expense

A: An example of an expense classification by function is

Q: Define Expenses

A: Expenses are the cost that is incurred by the firm or the company to run the business. Basically,…

Q: Define the term accrued expense.

A:

Q: Difference between present value and net present value.

A: Present value (PV) is the current value of a future sum of money or stream of cash flow given a…

Q: The expense recognition principle relates

A: Expense recognition is based on accrual and matching concept where accrual concept states that…

Q: What is an accrued expense? Provide an example.

A: Accrued expense: This is the expense incurred but not yet paid. It is treated as liability until the…

Q: Define insurance expense.

A: Expense: It refers to the cost incurred by a business to generate revenues in their business…

Q: what is the difference betwwen classifying an expense by nature or function?

A: The costs that are incurred to earn revenues in the process of operating activities of the business…

Q: reimbursement plan

A: Those Expenses will be reimbursed by Business to their Employees which are related to business. In…

Q: e discount rates of plement method.

A: Introduction: Net price factor is a method of business promotion that is used by companies in order…

Q: Define Miscellaneous expense.

A: Step 1 Expense is the amount incurred by the organization to generate revenue. It is shown in the…

Q: Net defined benefit asset results in Current service cost Interest expense Interest revenue

A: As per IAS 19 of IFRS mentions how the accounting should be done to employee benefit other than…

Q: Describe the different approaches of expense recognition.

A: Expenses are being recognized when the revenues and relevant expenses are matched for the same…

Q: Explain the term utilities expense and give an example.

A: Utilities Expenses are expenses incurred on public service utilities like electricity, sewage,…

Q: Question. What are Operating and non-operating expence?

A: Expenses refer to the outflow of money for the payment of any product or service used in the course…

Q: Define Expense recognition.

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: What is the difference between direct and indirect expenses?

A: Expenses: Expenses are costs incurred for the operations of a business. The costs incurred for…

Q: irrecoverable debts t

A: Allowance of doubtful debt is a provision created for uncertainty regarding collection from accounts…

Q: Why GAAP requires the allowance method

A: while accounting the uncollectible accounts  in the books of accounts GAAP requires the allowance…

Q: The term of Final Payment. Effects of Final Payment.

A: A contract is made so that the work can be done legally and both are bond to fulfill their portion…

Q: Define Interest cost.

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: Explain an example of deferred expense.

A:

Q: Define asset retirement obligations (AROs).

A:

Q: Define expense recognition principle

A: Expense recognition principle says that all expenses for the particular period must be recognized in…

Q: Define Deferred Payments.

A: Liabilities:   Liabilities are referred to as the obligation of the business towards the creditors…

Q: Payable.

A: The correct answer is  c) Long term bonds payable

Q: Write the definition, recognition, measurement and derecognition of BORROWING COST

A: Following is the answer to the given question

Q: describe general principles of expense recognition, specifi c expense recognition applications, and…

A: Expenses mean a decrease in economic benefits. Expenses are nothing but those transactions resulting…

Q: gent liab

A: Contingent Liability A contingent liability is an obligation that may arise as a result of the…

Q: gross

A: Definition: Gross Margin: It is revenue which is retained by the company after incurring all of the…

Q: Explain payables deferral period (PDP)

A: Payable deferral period (PDP) is a period or number of days that firms take to pay their creditors…

Q: usted penalty rate

A: Today, the operations of the banks are not only limited to lending and borrowing of money, but banks…

Q: An accrued expense is an expense that :

A: The expenses to be adjusted in income statement are prepaid expenses and outstanding or accrued…

Q: TRUE OR FALSE   The main difference between the function and the nature of expense methods is the…

A: Salaries, rent, supplies, and travel are all examples of natural expense classifications whereas in…

Q: onvention formula

A: A day-count convention is used to calculate the interest accrues on different investments such as…

Q: Define Interest revenue.

A: Revenue: Revenue is earnings from the operations of a business. The operating activities are the…

Q: Define salaries expense.

A: Salaries expense is the fixed pay earned by employees. The expense represents the cost of non-hourly…

Q: Residual Income

A: The answer is as fallows

Q: pales Jariable expenses

A: In this question, we have to find out the return on assets. ROA is a financial ratio that tells us…

Q: Describe the expense recognition principle (matching principle).

A: The expense recognition principle states that expenses should be recognized in the same period as…