What is the diffrence between General Exp. & Misc. Exp?




Answers were Sorted based on User's Feedback



What is the diffrence between General Exp. & Misc. Exp?..

Answer / hemanshu

ON THE ROUTINE OF THE ORGANISATION SOME EXP ARE COVER UNDER
THE GENERAL EXP AS A GROUP. AND MISC.EXP AS A LEDGER.
We can create many ledger like mis. exp in General & Admin.
Exp Group.
those are exp which is not coming regularly and amount is
not so much high then we can cover it in misc. exp.

Is This Answer Correct ?    8 Yes 2 No

What is the diffrence between General Exp. & Misc. Exp?..

Answer / h.r. sreepada bhagi

For presentation in the Financial Statement (Read P&L A/c
abd BS), Assets, Liabilities, Income & Expenses are grouped
under broad heads. there is no hard & fast rule about the
name of the groups, but it's guided by the generally
followed accounting practice & convention.

When it comes to Expenses, the re can be groups like, 1)Cost
of Materials Consumed or Cost of Goods Sold, 2)Factory
Expenses or Production Expenses, 3)Administration Expenses,
4)Employee Related Expenses, 5)Selling & Distribution
Expenses 6)Rent, Rates & Taxes, and so on. Under each of
these groups relevant expense ledgers can be listed. Most of
the expenses can be easily identify with specific ledger
a/c, but there will be some expenses, generally of small
value, which can not be identified strictly with any of the
ledger a/c. Such expenses, which are not material (Read
Materiality Concept) can be accounted in common expense a/c,
which can be called as General Expenses A/c, Misc. Expenses
A/c, Other Expenses A/c, as the company feels relevant.

Once again, I repeat, the grouping mentioned above are only
examples & it differs from company to company.

Note - As mentioned in the above answer, TDS is not an
expense, but it is a liability towards the Government. If
there TDS on the income received, then it's an asset. In any
case TDS is not a P&L A/c item.

Is This Answer Correct ?    5 Yes 4 No

What is the diffrence between General Exp. & Misc. Exp?..

Answer / satyendra kumar sah

General exp. is an exp. we can treat in p/l a/c as indirect
exp.misc. exp. not comes in business regularly and not high
amt. if treat high amt. exp. as a misc. in this case it
should be disallowed.some organization bribe treat a
general exp.

Is This Answer Correct ?    2 Yes 1 No




What is the diffrence between General Exp. & Misc. Exp?..

Answer / sathish

General exp 1) Salary 2)Rent 3)TDS
Misc Exp 1) Stationery 2) Courier

Is This Answer Correct ?    10 Yes 10 No

What is the diffrence between General Exp. & Misc. Exp?..

Answer / rajesh mrr

General expenses
means salaries
rent misc means
postage value

Is This Answer Correct ?    0 Yes 2 No

Post New Answer



More Accounting General Interview Questions

What is the purpose of accounts like e.g. expense accounts assigned a account number 0040, principal account assigned anumber 0060.In our general ledger software such numbers are assigned.I want to know how these numbers (accounts) help in maintaing accounts of a company (like bank reconciliation).

0 Answers  


I m considering BASIC + DA at the time of calculating EPF. Is it the right procedure?

2 Answers  


What is difference between accounts and finance?

11 Answers   Genpact,


What is a Special Calendar and its types

0 Answers  


How to calculate PF with example

18 Answers   manappuram, Meta Arch, The Chennai Silks,






What is the Major Difference between Revised Schedule VI and Old Schedule VI ?

1 Answers   DMRC,


what is ledger

6 Answers  


What is indent?

5 Answers  


how to show provident fun in balance sheet

4 Answers   Genpact, WBCS West Bengal Civil Service,


At the end of financial year need to verify the all entries in the books of accounts

1 Answers   CTS,


what is contingent liability

5 Answers   Capital IQ,


what is mean bt VPP?

3 Answers  






Categories