Interested to Buy Any Domain ? << Click Here >> for more details...
what is diffrance between preliminary Exp and Misc. exp
- 2 Answers
- 24595 Views
- I also Faced
- E-Mail Answers
Answer Posted / viswanath.chaganti
Preliminary expenses are expenses incurred for
incorporation of company/business. These expenses will be
written off over a period after incorporating the
business.These expenses will be shown in Balance sheet
asset side till write off.
Miscellaneous expenses are revenue in nature. Where
expenditure not related to particular head of account or
not able to classify, will accounted to Miscellaneous
expenses. These expenses will be transferred to P & L
account in the year end. Any miscellaneous expenses debited
to P & L a/c in excess of prescribed limit by Income Tax
Act, 1956 will be added back to income by authorities and
will be taxed accordingly.
| Is This Answer Correct ? | 28 Yes | 5 No |
Post New Answer View All Answers
what type of a/c these accounts are are tey real, nominal or personal (1)realisation a/c (2)new company a/c(3)equity share holders a/c
how history is helpful for banking?
cash sales and credit sales both are asset or liability?
please tell me questions asked in NICMAR for the post of accounts executive
What will be the consequences if the partnership is not registered
what is cnc machine hour rate? how it is calculated?
What is Free Cash?
let me know the difference between net cash flow and income
What is meant by advance ruling? What is the scheme of advance rulings?
How can someone prepared for Syndicate Bank Interviw? Do interviewer going to ask any aptitude questions or will it be similar to other PO Interviews? Answers solicited..
Apportion Nett profit of rs 325600 among the partners A,B,C and D as per sharing ratios of 26%,13%,32% and the balance to D.Pass journal entry
Which Invoice issued on Central Sale Commercial or Retail?
Comments Elements in accounting
what is ment by master in tally?
What is the quality of the accountant & rights ? hansika.kk@gmail.com
