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Categories >> Accounting >> Accounting AllOther
 
 


 

 
 Audit interview questions  Audit Interview Questions (422)
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 Taxation interview questions  Taxation Interview Questions (1893)
 Accounting General interview questions  Accounting General Interview Questions (2781)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4351)
Question
What is the treatment for PRELIMINARY EXPENSES?
 Question Submitted By :: Yugivccs
I also faced this Question!!     Rank Answer Posted By  
 
  Re: What is the treatment for PRELIMINARY EXPENSES?
Answer
# 1
This is the expenses,which incurred for Formation and flow
of the comany..The expenses can include the Cost of
producing Procpectus,issuing shares and advertising
expenses..

Note:-What ever i gave example that is belong to shares,
These can be belong to assets also....
 
Is This Answer Correct ?    110 Yes 27 No
Venu
 
  Re: What is the treatment for PRELIMINARY EXPENSES?
Answer
# 2
THIS EXPENSE HAS TO BE POSTED IN THE DR SIDE OF PROFIT AND
LOSS ACCOUNT
 
Is This Answer Correct ?    37 Yes 117 No
Shaik Bajivali
 
 
 
  Re: What is the treatment for PRELIMINARY EXPENSES?
Answer
# 3
Priliminary expances are kind of huge expences(Ex.- project appraisal,
documentation, legal charges,cunsultancy fees etc.) which occured before the
business started functing. These expences are for the standing of business unit
and off course, the benefit of which will be ripe continuously in future. It has a
special nature of an asset in financial statements and as per prudent accounting
principal should be write off in P&L A/c in a defferd way over the years.
 
Is This Answer Correct ?    88 Yes 18 No
Narendra Kumar
 
  Re: What is the treatment for PRELIMINARY EXPENSES?
Answer
# 4
PRILIMINARY EXPENCES ARE WRITTEN OFF AFTER PROFIT
CALCULATION
 
Is This Answer Correct ?    20 Yes 65 No
Gayatri Jadhav
 
  Re: What is the treatment for PRELIMINARY EXPENSES?
Answer
# 5
Preliminary expenses are those expenses which are paid
before starting of a business unit
 
Is This Answer Correct ?    78 Yes 14 No
Vijay
 
  Re: What is the treatment for PRELIMINARY EXPENSES?
Answer
# 6
This is the expenses, which incurred for Formation and flow
of the comany.The expenses can include the Cost of
producing Prospectus, issuing shares and advertising
expenses.
 
Is This Answer Correct ?    38 Yes 12 No
Ankit
 
  Re: What is the treatment for PRELIMINARY EXPENSES?
Answer
# 7
Preliminary expenses, which incurred for before
commencement of business. For setting up of any undertaking
or business (Preparation of feasibility report, project
report or for conducting market survey or any other survey
or engineering services relating to the business and Legal
charges for drafting any agreement for setting up or for
conduct of any business).
For Income tax purpose the following is the permissibe
expernditure.
(a)In case of company, 5% of Cost of Project or Capital
employeed.
(b)In case of any other business, 5% of the Cost of Project.
It will be allowed as deduction in 5 equal installments.
 
Is This Answer Correct ?    65 Yes 4 No
G. Shanker
 
  Re: What is the treatment for PRELIMINARY EXPENSES?
Answer
# 8
I Dont Know anything about Peliminary expenses 
Is This Answer Correct ?    33 Yes 22 No
Shradha Singh
 
  Re: What is the treatment for PRELIMINARY EXPENSES?
Answer
# 9
prelimnary expences is a expences which spend before the
business start (example,legal exp.,office making exp.)
 
Is This Answer Correct ?    26 Yes 7 No
Mohd.nadeem Ansari
 
  Re: What is the treatment for PRELIMINARY EXPENSES?
Answer
# 10
Preliminary expenses which those exepenses during at the
time of formation of a new company such as preparation of
feasibility report, survey exp., preparation of memorandum
and Articules of Association, legal fees, advertisement
exp. etc.
 
Is This Answer Correct ?    27 Yes 5 No
Ashwni Kumar Swain
 

 
 
 
Other Accounting AllOther Interview Questions
 
  Question Asked @ Answers
 
Is there any difference between Expenses and Payments   4
Expand C I F   2
where do you consider salary in an income statement? whether it is to be taken before gross profit or after net profit? answer with reasons. HP 2
contiagent liabilty Genpact 5
What is chargeback and purpose of chargeback?   2
what is interest on drawings Cognizent 4
what is the meaning and abservation of EBITDA   3
What are the 3 Basic Rules in Accounting. Franklin-Templeton 144
what is the fullform of CRR, GDP& WHAT ARE CURRENT5 CRR & GDP Religare 3
can anyone give the journal entry with the amount 10 tv bought in the business for 1000 each, out of which one is installed. Genpact 34
what is the meaning of LIQUIDITY? what is merger, acquisition & amalgamation? what is the differnce between them? WHAT IS THE TAXABLE VALUE OF THE FOLLOWING FRING BENEFITS FOR FRINGE BENEFIT TAX ? a) CONCESSIONAL TICKET PROVIDED BY THE EMPLOYER FOR PRIVATE JOURNEY OF An EMPLOYEE AND HIS FAMILY MEMBERS. b) GIFTS AND SCHOLARSHIP. Capital-IQ 9
how are the 3 financial statements related to each other?   1
 
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