Expenses Not Related Directly to Producing Goods and Services Are

question 54

Multiple Choice

Expenses not related directly to producing goods and services are popularly referred to as:

• A) staff salaries.
• B) overhead.
• C) core costs.
• D) fixed costs.

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Definitions:

NSF Check

A check that has been returned without being honored due to insufficient funds in the account it was drawn against.

Petty Cash Fund

A small amount of cash kept on hand for making immediate payments for miscellaneous, small expenses instead of writing checks.

Replenish

To fill up or restore to a previous level, often used in the context of inventory or supplies.

Internal Control

A process designed to ensure the safety and efficiency of the financial operations of a company, along with compliance with laws and accuracy in reporting.