Question Kindly describe the complete process of reporting the organization expenses.

Expert Solution

Step 1: Definition of organization expenses

The organization expenses are those expenses that are directly related to the formation of a corporation. The organization’s expenses include legal management fees, consulting fees, accounting, and filing fees.

Step 2: Reporting of organization expenses

The organization’s expenses are reported when incurred in the category of startup cost. Before reporting them to startup cost, the non-organizational expenses are separated from this. The merger expenses are not included in the organization’s expenses,

The organization’s expenses are classified as startup costs.

Komal Hooda answered 2 years ago

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Question Kindly describe the complete process of reporting the organization expenses.

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