Classify the following items into Income and Expenditure :
(i) Staff salary
(ii) Workers' wages
(iii) Interest on investment
(iv) Dividend on shares
(v) Interest on bank deposits
(vi) Discount allowed
(vii) Rent of office
Answers
Answer:
Explanation:
A salaried employee is a worker who is paid a fixed amount of money or compensation (also known as a salary) by an employer.
Wage is money paid to a worker for work performed, or the price you pay for doing something wrong or unwise. If you make $10 per hour at work, this is an example of your wage. If the consequences of a lie is punishment, this is an example of a time when the wages of lies are punishment.
What is Interest on Investments? Interest in investments is the periodic receipt of inflows on financial instruments, which may be like the bond, government securities, or bank account. It is income earned from the specified form of assets, which may be liquid.
Answer:
Classify the following items into Income and Expenditure :
(i) Staff salary
(ii) Workers' wages
(iii) Interest on investment
(iv) Dividend on shares
(v) Interest on bank deposits
(vi) Discount allowed
(vii) Rent of office