______ appears on the credit side of Manufacturing Account.
Sale of By-product
The correct answer is option 2. The sale of by-products appears on the credit side of the manufacturing account as it generates income from the production process. The other options are related to the expenses or purchases in the manufacturing account and do not appear on the credit side.
Important Questions from Trading and Profit & Loss Account
The cost of goods sold is equal to:
Which of the following costs is NOT included while calculating the cost of the inventory?
A not-for-profit organization pays rent for the building at Rs. 1,000 per month. However, the rent for the last two months has not been paid. What will be the amount shown in the receipt & payment account and income & expenditure account, respectively?
Which of the following statements is INCORRECT in the context of Not-for-profit organizations?
Which of the following items is NOT recorded in profit and loss account?
