How many of these expenses that would normally appear in an internally prepared income statement are required to be separately disclosed in an external statement prepared to conform to the requirements of the accounting standards?
$\bullet$Freight outwards
$\bullet$Printing and stationery expenses
$\bullet$Utilities expenses
A) 0
B) 1
C) 2
D) 3

Question

Quizplus · Accepted Answer

Accounting standards typically do not require the separate disclosure of freight outwards, printing and stationery expenses, or utilities expenses in external financial statements. These are usually aggregated into broader categories.

How Many of These Expenses That Would Normally Appear in an Internally