Complete the sentence: Trading Account is prepared on the basis of _____ expenses.
Q.1 (B) (1) Complete the sentence: Trading Account is prepared on the basis of _____ expenses.
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Answer: direct
Trading Account records purchases, sales and direct expenses (wages, carriage inward, freight, import duty, etc.) to find the gross profit. Indirect expenses go to the Profit and Loss Account.
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· 28 Oct 2026
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