Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Financial Statements of a Company

Question:

Which of the following is not included in the head employee benefit expenses?

Options:

Salary

Wages

Leave encashment

None of the above

Correct Answer:

None of the above

Explanation:

As per Schedule III of Companies Act 2013, expenses incurred on employees towards salary, wages, leave encashment, staff welfare, etc., are shown under this head. Employees benefit expenses may be further categorised into direct and indirect expenses.