Question

Which item is not included in cost account

Answer 1

item is not included in cost account

1)Profit or losses arising on sale of fixed assets
3
2)Financial Incomes- eg : Rent Receivable, Share transfer fee received, Interest received on bank deposits, Dividend Received, Brokerage Received, Discount & commission Received etc.

3)Appropriation of Profits-eg : donation and charities, Income Tax paid, Dividend paid, Transfer to general Reserve, Transfer to Capital Reserve etc

4)Amortization of fictitious assets- eg- Goodwill, patent, copy right, advertisement, preliminary expenses etc.

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