Question

Out of the following which does not result if difference in Profits as per Financial records and Cost Records
1)Capital Expenditure
2)Items purely of financial nature
3)Items appearing only in cost accounts
4)Valuation of Stock​

Answer 1

Explanation:

Reconciliation of Cost and Financial Accounts is the process to find all the reasons behind disagreement in profit which is calculated as per cost accounts and as per financial accounts.

There are lots of items which are shown in the profit and loss account only when we make it as per financial accounting rules. There are lots of items which are shown in costing profit and loss account only when we calculate profit as per cost accounting.

Answer 2

Answer:

2

Explanation:

items purely of financial nature