What is another word for incurred?

What is another word for incurred?

In this page you can discover 32 synonyms, antonyms, idiomatic expressions, and related words for incur, like: acquire, obtain, bring upon oneself, catch, contract, tackle, provoke, gain, take on, recoverable and disbursement.

What is expenses and its types?

An expense is the cost of operations that a company incurs to generate revenue. As the popular saying goes, “it costs money to make money.” Common expenses include payments to suppliers, employee wages, factory leases, and equipment depreciation.

What are the different types of business expenses?

Understanding Business Expenses

• Advertising and marketing expenses.
• Credit card processing fees.
• Education and training expenses for employees.
• Certain legal fees.
• License and regulatory fees.
• Wages paid to contract employees.
• Employee benefits programs.
• Equipment rentals.

What are the biggest business expenses?

As any company leader knows, the biggest cost of doing business is often labor. Labor costs, which can account for as much as 70% of total business costs, include employee wages, benefits, payroll or other related taxes.

What account goes under rent?

(Rent that has been paid in advance is shown on the balance sheet in the current asset account Prepaid Rent.) Depending upon the use of the space, Rent Expense could appear on the income statement as part of administrative expenses or selling expenses.

Is rent a debit or credit?

Since cash was paid out, the asset account Cash is credited and another account needs to be debited. Because the rent payment will be used up in the current period (the month of June) it is considered to be an expense, and Rent Expense is debited.

What is an example of a variable cost?

Examples of variable costs are sales commissions, direct labor costs, cost of raw materials used in production, and utility costs. The total variable cost is simply the quantity of output multiplied by the variable cost per unit of output.

Is research a fixed cost?

Investments in facilities, equipment, and the basic organization that cannot be significantly reduced in a short period of time are referred to as committed fixed costs. Examples of discretionary costs are advertising, insurance premia, machine maintenance, and research & development expenditures.

What is fixed cost with diagram?

Fixed costs are costs which do not change with change in output as long as the production is within the relevant range. Average fixed cost equals total fixed costs divided by output. Within the relevant range, the average cost falls and the average fixed cost curve declines with increase in output.

Is R&D COGS or SG&A?

SG&A includes nearly everything that isn’t included in cost of goods sold (COGS). Interest expense is one of the notable expenses not in SG&A and is listed as a separate line item on the income statement. Also, research and development costs are not included in SG&A.