Fill in the blanks with apt word(s)
- Cost and financial accounts are reconciled in _________ accounting system.
- The system of maintaining same set of books of account to record both costing and financial transactions is known as “ ______ ” accounting system.
- Appropriation of profits is _____ in cost accounts.
- Purely financial charges and incomes are ______ in financial accounts.
- Stock is valued at the lower of _____ or ____ in financial accounts, while in cost accounts it is valued at ______.
- Abnormal losses are _____ in financial accounts, where as they are ____ in cost accounts.
- Over/under-absorption is excluded from ________ accounts.
- Capital losses shown in financial accounts are _____ while reconciling costing profits with financial profits.
- If profit as per cost accounts is taken as the base, over-valuation of opening stock of inventory is to be _____ to it.
- _____ of depreciation in cost accounts is added to costing profits while reconciling with financial profits.