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What type of expenses are paid out of Gross Profit? A) General Expenses B) Financial Expenses C) Selling Expenses D) All of the above

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تم إضافة السؤال من قبل Waqas Raza Khan , Accountant , Cold Store Group of Saudi Arabia
تاريخ النشر: 2015/01/18
مستخدم محذوف‎
من قبل مستخدم محذوف‎

In terms of IFRS - None of the above.  Therefore there is no correct option.

 

IAS2 says only capitalise to cost of inventory; those costs relating to manufacture, all costs relative to making the goods ready for sale; no general administrative costs.  Overheads which may contain depreciation and finance costs of machinery, rental must be allocated on systematic basis based on normal capacity.

 

What type of industry, if manufacturing, definitely none of the above?

 

In Cost Management direct costing method, selling costs will be included.

 

IFRS income statement gross profit less other operational costs, less finance costs = net profit.

Fawzy Ahmed Salim El-Shabiby
من قبل Fawzy Ahmed Salim El-Shabiby , Accountant , Servtel Information, Security, and Telecommunication Network Limited

Ans: (D) All of the above

Waqas Raza Khan
من قبل Waqas Raza Khan , Accountant , Cold Store Group of Saudi Arabia

Option -------------D

Divyesh Patel
من قبل Divyesh Patel , Assistant Professional Officer- Treasury , City Of Cape Town

Option D

Khuram  Ilyas
من قبل Khuram Ilyas , Accountant , Team Safety Consultant and Training LLC

Option (D) All of above is correct answer.

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