Question

How much of the expenses listed above should be included in Nance's general and administrative expenses for 2016?

1) 760,000
2) 820,000
3) 880,000
4) 940,000

Answer 1

To determine Nance's general and administrative expenses for 2016, you need to identify the relevant expenses and add them up. The expenses that should be included are $760,000, $820,000, $880,000, and $940,000.

Step-by-step explanation:

To determine how much of the expenses listed above should be included in Nance's general and administrative expenses for 2016, you need to identify which expenses fall under the category of general and administrative expenses. General and administrative expenses typically include costs related to management, administration, and support functions that are not directly tied to the production or sale of goods or services.

Looking at the provided list of expenses, you can consider expenses such as salaries for management and administrative staff, office rent, utilities, office supplies, legal fees, and other similar expenses as general and administrative expenses. Sum up the amounts for these expenses and you should arrive at the total general and administrative expenses for 2016.

In this case, the expenses that should be included in Nance's general and administrative expenses for 2016 are as follows:

1. $760,000
2. $820,000
3. $880,000
4. $940,000