Which of the following item of expenses will not appear in cost accounting.
A. Direct material cost
B. Factory overheads
C. Selling Expenses
D. Loss on sale of fixed assets
Answer: Option D
Solution(By Examveda Team)
Loss on sale of fixed assets will not appear in cost accounting. Debit cash for the amount received, debit all accumulated depreciation, debit the loss on sale of asset account, and credit the fixed asset.Related Questions on Costing
Basic objective of cost accounting is ________
A. tax compliance.
B. financial audit.
C. cost ascertainment.
D. profit analysis.
Process costing is suitable for ________.
A. hospitals
B. oil refing firms
C. transport firms
D. brick laying firms
The cost which is to be incurred even when a business unit is closed is a _____.
A. imputed cost
B. historical cost
C. sunk cost
D. shutdown cost
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