Question

Which of the following items is not included in cost accounts

Answer 1

Non-cost items Non-cost items are those items which do not form part of cost of a product. Such items should not be considered while ascertaining cost of a product. These are items included in profit and loss A/c as per principles of Financial Accountancy but not related to product.

hope it helps..

Answer 2

There are following items which are not included in the cost accounts are:

1. Non-cash items: Non-cash items are not included in cost accounts because the cost accounting only deals in cash receipts and expenses, these items are capital depreciation, amortization of goodwill, investment gain and loss without cash payments.

2. Items that come only in financial accounting: A few items that only come under financial accounting because these items do not cover under cost accounting, these items are income tax paid, interest received on investment, profit and loss on investments, interest on saving bank account.