Service Industries Classifications

Advertising is

• Group 1 Expense

• Administrative expense

The only type of expense under Finance costs is insurance

• True

• False

Office Rent is

• Finance Costs

• Administrative expenses

• Group 1

Petrol and oil for delivery van is a

• Finance cost

• Administrative expense

• Group 1

Interest on Mortgage is

• Finance costs

• Administrative expense

• Liability

Telephone and internet

• Group 1 expenses

• Administrative expenses

• Finance Costs

Electricity is

• Administrative expense

• Finance Costs

• Group 1 expenses

Administrative Expenses are to

• Incurred to operate the business

• Incurred to increase Income

• Incurred in financing its operations from outside sources

General expenses

• Group 1 Expenses

• Finance Costs

• Administrative costs

What source of Income indicates whether it is a service entity

• Sales

• Fees Received

• Interest Received

• Rent Received