Question

which of the following are examples of broad classes of expenses on the income statement? multiple select question. cost of goods sold dividend expense retained earnings interest expense taxes general and administrative expenses

Answer 1

They consist of depreciation or amortisation, research and development, general and administrative expenses, and cost of products sold. We all incur three main categories of costs fixed, variable, and periodic.

Expenses are the costs that the business must incur in order to make a profit. The depreciation of equipment, staff salaries, and supplier payments are a few instances of regular expenses. Financial statements that must be provided are the income statement, balance sheet, and statement of cash flows. These three statements can be used by traders as educational tools to assess a company's financial health and to quickly determine its underlying value.

What is amortisation?

The cost of products supplied, selling, general, and administrative costs, depreciation or amortisation, as well as research and development costs, are among them.

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