Banking · Final Accounts of Banking Companies
In the process of preparing final accounts for a banking company as per the Third Schedule of the Banking Regulation Act, 1949, which specific item is treated as a core expense deducted from interest income and other income in the Profit and Loss Account to arrive at the profit/loss before provisions and taxes?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Capital Reserve Transfer
- 2Proposed Dividend
- 3Statutory Reserve Transfer
- 4Interest Expended (including interest on deposits)✓
Correct answer
Interest Expended (including interest on deposits)
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