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Standard XII
Accountancy
Question

Which of the following is not included in compensation of employees?
  1. all of the above
  2. Employees' contribution to social security schemes
  3. Wages and salaries in cash
  4. Windfall gains

A
Wages and salaries in cash
B
all of the above
C
Windfall gains
D
Employees' contribution to social security schemes
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Solution
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Compensation of employees refers to the total gross waged paid to the employees for the work done by them. It is paid by the employers in a given accounting period. Employees' contribution to social security schemes are not included in compensation of employees, whereas, wages and salaries in cash and windfall gains are included in compensation of employees.

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Which of the following is a final and intermediate expenditure?

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OR

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