In the Trading Account, 'Consumable Stores' used in production are: MCQ with Answer and Explanation

Explanation:
The Trading Account is prepared to calculate Gross Profit by matching direct expenses with net sales. Indirect expenses (like office rent, salaries) are recorded in the Profit and Loss Account, not the Trading Account. S1 is correct, S2 is incorrect.

Explanation:
Public sector enterprises and large corporations often prepare social accounting statements to show their contribution to social objectives.

Explanation:
Variable payments based on index/rate are included; those based on performance/usage are excluded.