In departmental accounts, administrative expenses are rec...
In departmental accounts, administrative expenses are recorded in the
Trading account
Balance sheets
Profit and loss account
Profit and loss appropriation account
Correct answer is C
Administrative expenses are the expenses that an organization incurs not directly tied to a specific function such as manufacturing, production or sales. These expenses are related to the organization as a whole as opposed to an individual department. Expenses included in the profit and loss account are Selling and distribution expenses, Freight & carriage on sales, Sales tax, Administrative Expenses, Financial Expenses, Maintenance, depreciation and Provisions and more.
Use the following to answer the given question DEBTORS CONTROL ACCOUNT: \(\begin{array}{c|c} &...
The process of allocating the cost of an intangible assets over its useful life is known as ...
A unit of a company capital is ...
Which of the following transactions is a revenue expenditure? ...
Cash can be drawn from the bank using ...
The partnership deed normally specifies? ...
The most important reason for studying accounting is that ...