Cost accountancy management

pls confirm whether ans is correct.....

que : major items of exp & income, which will appear in fiancial accounts but will no normally appear in cost accounts

ans: administrative exp like audit fees, business pramotion, consultancy fees, legal & professional fees, communication exp, finanacila exp like interest on bank loans etc, tax exp like municipal tax, profession tax etc

and income side: interest on bank, rd, fdr's, sale of scrap, income tax refund, etc

pls confirm if i am correct

Replies (3)

Yes. Answer is correct only. 

Thanks Dear Mr Ramesh

Can you pls help me for following question for CCa examination.......

ques:  What is a trading account? What are its major constituents? What is its major outcome?

Ques:  Will the assessee be liable to pay interest, if:

 

(a) the amount as; per notice of demand uls 156 is not paid;
(b) TDS is not deducted;
(c) TDS is deducted but not paid;
(d) TDS is deducted but paid late.
 
Yuvraj

 

The part of an income statement that shows how the gross profit was generated through trading activities.
Q.1.Trading account is an part of profit & loss account which prepared for financial statments. which refelcts the result of trading activities. Mainly contains Purchase & sales & opening , closing stock and other direct expenses related to trading activies, out come of trading account is measurement of gross profit
Q.2. ANS: d:TDS deducted but paid late


 

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