- (a) (i)Pre-operating expenses refers to costs incurred by the business before it starts its operation.
(ii) The following are the examples of pre-operating expenses met by an entrepreneur;
- Business license expenses
- Business name registration expenses
- Installation of machines and equipments expenses
- Market research expenses
- Construction of building expenses
- Hiring /renting expenses
- Advertising expenses
- Business consultation expenses
- Technical training expenses
- Expenses on the preparation of the business plan
(b)(i)Credit selling refers to the transactions where goods are sold or transferred and payment is made at future date
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