This is a monetary amount that is paid against receiving of goods or services that have been offered by a particular party.

The various types are:

  • Salaries
  • Wages
  • Rent
  • Commission
  • Interests
  • Bills of various services (Gas, Electricity, Oil, Water, Telephone)
  • Carriage on both outward and inward journey
  • Customs and Freight
  • Advertisements expenditure
  • Interest on Bank Loan and Capital
  • Legal charges
  • Audit fees
  • Drawings
  • Discounts
  • Bills of Discount
  • Untoward incidents not covered by Insurance company
  • Bad debts
  • Insurance


Links of Previous Main Topic:-

Links of Next Financial Accounting Topics:-

Submit Assignment

How It Works

Customer Reviews

Ratings based on 510 customer reviews.
Trustpilot ratings
Google Ratings