dear all
what is the meaning of the word "rates" in the term "rent and rates" ?
i am studying overheads costing and i could not find the meaning. please reply asap.
1 Replies
Dr. Rashid Mehmood, CPA, Ph.D
(Chief Financial Officer at National Advanced Systems Co. Ltd)
(1594 Points)
Replied 22 February 2013
Dear
The terms RATES have been taken from british accounting terms. rates normally referes to water charges paid to land lord in addition to the annual rent.
hoping it will suffice your concerns.
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