Preparation of Common-Size Statement of Profit and Loss Quiz
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Questions and Answers

What is typically included in Selling and Distribution Expenses?

  • Interest on Debentures
  • Depreciation on Delivery Van (correct)
  • Interest Received On Loans
  • Profit on Sale of Assets
  • Which item is not generally categorized under Interest?

  • Interest on Bonds
  • Commission received (correct)
  • Interest on short term loans
  • Interest on Public Deposits
  • What could be classified as Non Operating Income?

  • Loss on Sale of Investment
  • Damages paid
  • Fines paid
  • Profit on sale of Investments (correct)
  • Which of the following is a Non Operating Expense?

    <p>Penalty paid</p> Signup and view all the answers

    Under which category would Exhibition Expenses typically fall?

    <p>Selling and Distribution Expenses</p> Signup and view all the answers

    Which item would not be considered an Interest expense?

    <p>Interest Received On Shares</p> Signup and view all the answers

    Which of the following can be classified as Non Operating Income?

    <p>Damages Received</p> Signup and view all the answers

    In which category would Loss on Sale of Assets be typically placed?

    <p>Non Operating Expenses</p> Signup and view all the answers

    Where would Rent Received be classified?

    <p>Non Operating Income</p> Signup and view all the answers

    Under which category would Share Transfer Fees Received typically be classified?

    <p>Non Operating Income</p> Signup and view all the answers

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