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Sir can you please explain me why have the deducted all expenses from auction fee to get profit before tax,should n’t the auction fee be also included in the expenses,as auction fee is also kind of expense to the company,or am i getting the meaning of auction fee wrong. Thanks
The auction fees are income to Trosoft (they will be holding auctions on the internet for people and charging a fee for doing it).
(The examiner could have presented the question a bit better – he should have put a heading ‘inflows’ above auction fees, just as he has put a heading ‘outflows’ before all of expenses.)
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