Cost of goods sold excludes___________?

Related Mcqs:

Financial statements differ from management account because

A. They are mainly prepared for external users of financial information B. They are more complex and hard to prepare C. The are the summary of accounting data D. The are prepared on basis of actual concept...

Discount for quick repayment of debt is normally referred as____________?

A. Trade discount B. Prompt payment discount C. Cash discount D. Bulk discount...

Which of the following error is an error of principle

A. 5,000 received from Sham credited to Ram A/c B. 5,000 incurred on installation of new plant debited to travelling expenses A/c C. 500 paid for wages debited to salary A/c D. 500 being purchase of raw material debited to purchase A/c ` 50...

Benefits of preparing Bank Reconciliation Statement includes___________?

A. It bring out any errors committed in preparation of Cash book / Bank Pass Book B. Highlights under delay in clearance of cheques deposited but not credited C. Help know actual bank balance D. All the three...

Outstanding salaries is shown as___________?

A. An Asset in the Balance Sheet B. A Liability C. By adjusting it in the P & L A/c D. Both B. and C. above...