If you have never tried to quit smoking cold turkey, it will likely be a learning experience. Even if you don't successfully quit using this method, you may learn things about yourself and your habit that will help you quit on a future attempt.
After you've made a list of liabilities, divide them into two categories: 1  Liabilities that will be ongoing during probate -- these will be administrative expenses. 2  Liabilities that can be paid off in full after the probate estate is opened -- these are the decedent's final bills.
Accounted for after cost of sales, operating expenses comprise the other major category of expenses on the income statement. Operating expenses are expenses incurred in the process of running the business operations that actually turn acquired products intended for sale into actual sales revenue. Examples of operating expenses include the salaries paid to administrative workers and rent paid to use the store buildings.