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Question
______ and ______ are ledger accounts can be created under Group Indirect Expenses.
Options
Insurance
Sale
Rent
Bank Loan
Octroi
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Solution
Insurance and rent are ledger accounts can be created under Group Indirect Expenses.
Explanation:
- Insurance - Premiums paid to insure business assets and operations are operating costs and therefore recorded as an Indirect Expenses ledger (Insurance A/c).
- Rent - Payments for office/warehouse premises are operating costs and recorded under Indirect Expenses (e.g., Office Rent A/c).
- Sale is revenue, a bank loan is a liability, and octroi is a duty or tax levied on goods entering a municipal jurisdiction.
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