GCE Accounting 2023 Objective — Question 50

Question 50 of 50 from the General Certificate of Education (GCE) Accounting 2023 Objective paper, with the correct answer and a full explanation.

Which of the following items is found in the profit and loss account of a company? (a) proceeds from issue of shares (b) proposed dividend (c) directors' remuneration (d) transfer to general reserves

A. proceeds from issue of shares
B. proposed dividend
C. directors' remunerationCorrect
D. transfer to general reserves

Explanation

Directors' remuneration is an operating expense charged in the profit and loss account, unlike share issue proceeds, proposed dividends and reserve transfers which are appropriations/balance sheet items.

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