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Why excise duty is included in Profit Loss account instead of Trading Account ? (pg no. 360)
Why excise duty is included in Profit Loss account instead of Trading Account ? (pg no. 360)
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Solution
Excise duty is an indirect expense of the business. Therefore, it is shown in the debit side of Profit and Loss A/c.
Excise duty is an indirect expense of the business. Therefore, it is shown in the debit side of Profit and Loss A/c.
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