what are Miscellaneous expenses? where it posted ?give with
example and why it is call miscellaneous expenses
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Answer Posted / siddharth
Miscellaneous expense are costs that are grouped together as an account in the general ledger because of a lower monetary value.In other words it is incidental expenseof a business, not classified as manufacturing, selling, or general and administrative expenses. It is presented on an income statement after operating income. Miscellaneous expenses are immaterial and does not seem appropriate, consider opening a new account to capture the expenses.Examples (depending on each individual entity) may include travel expenses, expenses for business consultations, and appraisals to determine a casualty loss, meals.
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