MP Board · Class 11 · Accountancy · Financial Statements - IDirect expenses are debited to which of the following accounts?
Step-by-Step Solution
Direct expenses are those expenses which are directly connected with the purchase or manufacture of goods and are debited to the Trading Account.
Detailed Options Breakdown
Option : Profit and Loss Account
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Financial Statements - I.
Option 1: Trading Account (Correct Answer)
Correct choice. Refer to the step-by-step verified solution guidelines above for details.
Option 2: Balance Sheet
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Financial Statements - I.
Option 3: Capital Account
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Financial Statements - I.
💡 Study Guide: This question tests core syllabus concepts from Financial Statements - I. For formulas, key summaries, and mock exam reference guides, read the full Financial Statements - I Revision Notes.