Which of the following expenses do not require separate disclosure in an external statement prepared to conform to the requirements of the accounting standards?
I.Freight outwards
II. Finance costs
III.Utilities expenses
IV.Printing and stationery expenses
A) I, II, III and IV
B) II and IV
C) II, III and IV
D) I, III and IV

Question

Quizplus · Accepted Answer

Freight outwards, utilities expenses, and printing and stationery expenses are all operating expenses and require separate disclosure in an external statement prepared to conform to the requirements of the accounting standards. Finance costs are a separate category of expenses and also require separate disclosure. Therefore, only choice II is incorrect.

Which of the Following Expenses Do Not Require Separate Disclosure