Classifications of Financial Elements

Question 1

Sales

Answer 1

Revenue/Income

Question 2

Fees

Answer 2

Revenue/Income

Question 3

Commission Revieved

Answer 3

Other Income

Question 4

Gain on Sale of a Fixed asset

Answer 4

Other Income

Question 5

Interest Recieved

Answer 5

Other Income

Question 6

Rent Recieved

Answer 6

Other Income

Question 7

Discount Recieved

Answer 7

Other Income

Question 8

Dividends Recieved

Answer 8

Other Income

Question 9

Advertising

Answer 9

Distribution Expenses

Question 10

Cartage Outwards

Answer 10

Distribution Expenses

Question 11

Commission

Answer 11

Distribution Expenses

Question 12

Delivery Expenses

Answer 12

Distribution Expenses

Question 13

Depreciation on shop fittings

Answer 13

Distribution Expenses

Question 14

Depreciation on Delivery Vehicles

Answer 14

Distribution Expenses

Question 15

Freight Outwards

Answer 15

Distribution Expenses

Question 16

Repairs to Delivery Vehicles

Answer 16

Distribution Expenses

Question 17

Repairs and Maintenance (Shop Fittings)

Answer 17

Distribution Expenses

Question 18

Sales Wages and Salaries

Answer 18

Distribution Expenses

Question 19

Travelling Expenses

Answer 19

Distribution Expenses

Question 20

Loss on Sale of Distribution Asset

Answer 20

Distribution Expenses

Question 21

Accounting Fees

Answer 21

Administrative Expenses

Question 22

Audit Fees

Answer 22

Administrative Expenses

Question 23

Depreciation (other than Shop Fittings or Delivery Vehicles

Answer 23

Administrative Expenses

Question 24

Electricity

Answer 24

Administrative Expenses

Question 25

General Expenses

Answer 25

Administrative Expenses

Question 26

Office Expenses

Answer 26

Administrative Expenses

Question 27

Insurance

Answer 27

Administrative Expenses

Question 28

Postage

Answer 28

Administrative Expenses

Question 29

Printing

Answer 29

Administrative Expenses

Question 30

Rates

Answer 30

Administrative Expenses

Question 31

Rent

Answer 31

Administrative Expenses

Question 32

Repairs and Maintenance (Other than Shop fittings or delivery Vehicles

Answer 32

Administrative Expenses

Question 33

Salaries

Answer 33

Administrative Expenses

Question 34

Stationary

Answer 34

Administrative Expenses

Question 35

Telephone and Tolls

Answer 35

Administrative Expenses

Question 36

Vehicle Expenses ( other than Delivery Vehicles

Answer 36

Administrative Expenses

Question 37

Wages

Answer 37

Administrative Expenses

Question 38

Donations

Answer 38

Administrative Expenses

Question 39

Loss on Sale of asset

Answer 39

Administrative Expenses

Question 40

Interest on loan, overdraft, hire purchase etc

Answer 40

Finance Costs