Question

Which of the following is not a part of Finance Cost (in statement of profit

and loss)? (1)

(a) Bank Charges (b) Interest Paid on Debentures

(c) Interest Paid on Public Deposits (d) Loss on Issue of Debentures​

Answer 1

Answer:

C) Interest paid on public deposits....

Explanation:

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Answer 2

The correct answer is OPTION A: Bank Charges.

• All fees and levies that a bank imposes on its customers are known as bank charges.
• Personal checking and savings accounts are subject to fees.
• These fees include:

1. monthly account fees,
2. transaction fees other than overdraft limit excesses,
3. interest on overdrafts whether authorized or unauthorized by the bank,
4. fees for exceeding authorized overdraft limits, and
5. fees for making payments or attempting to make payments where no authorized overdraft exists.