What type of expenses are paid out of Gross Profit?
A. General expenses
B. Financial expenses
C. Selling expenses
D. All of the above
Answer: Option D
Solution(By Examveda Team)
General expenses, Financial expenses and Selling expenses are paid out of Gross Profit.This Question Belongs to Commerce >> Accounting
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Comments ( 1 )
Accounting provides information on
A. Cost and income for managers
B. Company's tax liability for a particular year
C. Financial conditions of an institutions
D. All of the above
The long term assets that have no physical existence but are rights that have value is known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Patents, Copyrights and Trademarks are
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
It's answer should be none of these as all these expenses are paid out of The NET PROFIT of the business.........