cost and financial accounts are reconciled under non integral accounting 559142

State whether the following statements are true or false:
1.Cost and financial accounts are reconciled under non integral accounting.
2.Rent on owned buildings is not included in cost accounts.
3.Income tax is provided only in cost accounts.
4.Under absorption of production overheads is deducted while reconciling cost profit with financial profits.
5.Under valuation of closing stock in cost accounts is added while reconciling cost profit with financial profits.
6.Under absorption = actual > estimated.
7.Over absorption = actual > estimated.
8.Costing profit and loss account and financial profit and loss account are the same.
9.Capital losses shown in financial accounts are deducted while reconciling costing profits with financial profits.
10.Under absorptions are caused by clerical errors.

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