The administrative expenses of a firm such as office salaries, insurance, and rent are classified as expenses.

Expenses that are associated with sales are classified as: Group of answer choices financial expenses. other expenses. selling expenses. administrative expenses.

Office and administrative expenses can be charged on the basis of .a.labour cost.b.factory cost.c.material cost.d.prime cost

The following are business expenses, except:Select one:a.Personal exemptionsb.Grossed-up monetary value of fringe benefits granted by the employer to the employeec.Representation, entertainment, amusement and recreation expenses that are directly related to the development of the taxpayer's trade, business or professiond.Salaries, wages and other forms of compensation

An example of an expense, as defined in the Conceptual Framework, is:Question 4Select one:a.Dividends paid to shareholders.b.Cash purchase of office equipment.c.Payment to a supplier for purchases made on credit.d.Wages paid on a weekly-basis to employees.

Costs readily traced to a department because they are incurred for that department's sole benefit are called expenses.