Financial Accounting

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Identify Errors of Expenditure Types


For each of the following statements, please indicate whether the company appropriately records the cost. If yes, the answer is tru​e, if not, then the answer is false.

(I): Utilities Expenses are included in the cost of a washing machine

(II): Sales tax is included in the expense of a new Delivery Truck

(III): Property tax is added to the Building account