Classify the following expenses under various heads of statement of profit and loss as per Schedule III
Question:
Classify the following expenses under various heads of statement of profit and loss as per Schedule III of the Companies Act, 2013:
1. Staff welfare expenses
2. Interest paid
3. Payment to contract labour
4. Goods purchased for trading
5. Auditors’ fees
6. Depreciation on property, plant and equipment
7. Bank charges in relation to obtaining loan
8. Contribution to provident fund
9. Raw material purchased
10. Directors’ fees
11. Income tax
12. Consumable stores purchased
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