Excise duty on goods manufactured in the country is debited to __________.

Trading account

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Profit and loss account

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Cash account

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None of the above

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Solution

The correct option is A Trading account
Trading account is prepared to know the direct (gross) profit generated out of business. While preparing trading account, all direct expenses are debited to trading account.
Excise duty is a direct expenses and to be debited to trading account.

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Excise duty on goods manufactured in the country is debited to __________.

The correct option is A Trading accountTrading account is prepared to know the direct (gross) profit generated out of business. While preparing trading account, all direct expenses are debited to trading account.Excise duty is a direct expenses and to be debited to trading account.

The correct option is A Trading account
Trading account is prepared to know the direct (gross) profit generated out of business. While preparing trading account, all direct expenses are debited to trading account.
Excise duty is a direct expenses and to be debited to trading account.