Regarding shop insurance

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744 Points Posted on 14 December 2021
can we claim shop insurance in profi nd loss account properties firm
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On 14 December 2021 at 09:14 Report
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Quick Summary
This discussion clarifies whether shop insurance premiums can be claimed on a Profit & Loss account. The consensus is that insurance premiums are considered expenditure. They should be booked directly as an insurance premium expense in the Profit & Loss account, as they are an indirect expense for the firm.

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SEO Sai Gr. Hosp.
212572 Points Posted on 14 December 2021

YES. INSURANCE PREMIUM PAID IS EXPENDITURE..         

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On 14 December 2021 at 09:46
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744 Points Posted on 14 December 2021
Thanks sir
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On 14 December 2021 at 10:38
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SEO Sai Gr. Hosp.
212572 Points Posted on 14 December 2021

MOST WELCOME ..              

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On 14 December 2021 at 10:41
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Company Secretary
7085 Points Posted on 14 December 2021
Yes it's a indirect expenses simply book as an insurance premium expense in profit and loss account
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On 14 December 2021 at 14:10

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