The statement of profit or loss
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Samoco is a supermarket chain selling groceries to the public. The accounts department has received an invoice for fruit and vegetables supplied by a market gardening firm. To which category of expenditure in the statement of profit or loss would this invoice belong?
Cost of sales
correct
incorrect
Distribution and selling costs
correct
incorrect
Administration expenses
correct
incorrect
Finance expense
correct
incorrect
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Samoco is a supermarket chain selling groceries to the public. The company has incurred legal costs in defending the company in a trade dispute. To which category of expenditure in the statement of profit or loss would these legal costs belong?
Cost of sales
correct
incorrect
Distribution and selling costs
correct
incorrect
Administration expenses
correct
incorrect
Finance expense
correct
incorrect
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Samoco is a supermarket chain selling groceries to the public. The wages of the shelf stackers have just been calculated and paid. To which category of expenditure in the statement of profit or loss would these wages costs belong?
Cost of sales
correct
incorrect
Distribution and selling costs
correct
incorrect
Administration expenses
correct
incorrect
Finance expense
correct
incorrect
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Samoco is a supermarket chain selling groceries to the public. The accounts department has just paid the quarterly rent on the head office building. To which category of expenditure in the statement of profit or loss would this rent cost belong?
Cost of sales
correct
incorrect
Distribution and selling costs
correct
incorrect
Administration expenses
correct
incorrect
Finance expense
correct
incorrect
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Samoco is a supermarket chain selling groceries to the public. The company has recently sold two stores that had cost £20 million for £21million. To which category of income in the statement of profit or loss would this profit on the sale of these properties be allocated?
Revenue
correct
incorrect
Finance income
correct
incorrect
Finance expense
correct
incorrect
Exceptional income
correct
incorrect
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Samoco is a supermarket chain selling groceries to the public. The accounts department has received an invoice for packets of biscuits and breakfast cereals. To which category of expenditure in the statement of profit or loss would this invoice belong?
Cost of sales
correct
incorrect
Distribution and selling costs
correct
incorrect
Administration expenses
correct
incorrect
Finance expense
correct
incorrect
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not completed
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Samoco is a supermarket chain selling groceries to the public. The bank statement has just arrived showing an interest charge of £5,225 on a short-term overdraft taken out by the company. To which category of expenditure in the statement of profit or loss would this interest expense belong?
Cost of sales
correct
incorrect
Distribution and selling costs
correct
incorrect
Administration expenses
correct
incorrect
Finance expense
correct
incorrect
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