Economics · Financial Accounting
The freight and insurance paid directly for acquiring goods or making them saleable is recorded as a direct expense and is:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1debited to the trading account✓
- 2credited to the trading account
- 3debited to the profit and loss account
- 4credited to the profit and loss account
Correct answer
debited to the trading account
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