Classification of Expenses - SS3 Accounting Past Questions and Answers - page 1
1
What are direct expenses in accounting?
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A
Expenses that are directly related to the production of goods or services
B
Expenses that vary with the level of production or sales
C
Expenses that remain the same regardless of the level of production or sales
D
Expenses that are not related to the normal course of business
2
What are variable expenses in accounting?
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A
Expenses that are directly related to the production of goods or services
B
Expenses that vary with the level of production or sales
C
Expenses that remain the same regardless of the level of production or sales
D
Expenses that are not related to the normal course of business
3
What are capital expenses in accounting?
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A
Expenses that are incurred for the acquisition or improvement of long-term assets
B
Expenses that vary with the level of production or sales
C
Expenses that remain the same regardless of the level of production or sales
D
Expenses that are not related to the normal course of business
4
What are non-operating expenses in accounting?
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A
Expenses that are directly related to the production of goods or services
B
Expenses that vary with the level of production or sales
C
Expenses that are not related to the normal course of business
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D
Expenses that remain the same regardless of the level of production or sales
5
What are controllable expenses in accounting?
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A
Expenses that can be managed or controlled by the business
B
Expenses that vary with the level of production or sales
C
Expenses that remain the same regardless of the level of production or sales
D
Expenses that are not related to the normal course of business
6
Why is it important to classify expenses in accounting?
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7
What is the difference between fixed and variable expenses in accounting?
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