''Below the line'' item in public s...
''Below the line'' item in public sector accounting means such an item is.........
Not budgeted for in the current fiscal year
Less than what is budgeted for
Budgeted for in the current fiscal year
To be carried forward to the next fiscal year
Correct answer is A
In public sector accounting, an item categorized as ''below the line'' is an income or expense in accounting which have no noticeable effect on company profits in the current period.
It means the item does not affect the profit or loss from normal operations for that accounting period.
The objective of a trading account is to establish the? ...
The art of recording transactions in books of account is known as ...
Which of the following is not a debit entry in the Bought Ledger? ...
Trading Account (Extract) .................N.............................N...... Opening stock.....
\(\begin{array}{c|c} & N \\ \hline \text{Opening stock of raw materials} & 8,000\\ \text{Pur...