Discussion
In a statements of reconciliation between cost and financial accounts, expenses shown only in financial accounts are
Answer: A
Expenses shown only in the financial accounts are added to the financial profit. A reconciliation statement usually starts from the profit shown by the financial accounts to arrive at the profit in the cost accounts. Items that are charged in the financial accounts but not in the cost accounts, such as losses on sale of assets or interest paid, have reduced the financial profit, so adding them back gives the higher costing profit. Deducting them, or ignoring them, would not reconcile the two figures.
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