Administration overhead includes general office operations costs such as salaries, stationery, and telecommunication expenses, essential for executing administrative activities within an organization.
Money paid, usually once a year, to policyholders with participating policies. Dividend rates are based on the insurance company's mortality experience, administrative expenses, and investment returns. Policyholders may choose to take these dividends in cash or may purchase additional life insurance.
SG&A expenses are essential for the daily operations of a business but do not include production costs. These expenses are tracked on a company's profit and loss statement and cover a variety of areas such as sales salaries, advertising, office expenses, and more.
Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.