ADMINISTRATIVE/ADMINISTRATION COST Definition

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ADMINISTRATIVE/ADMINISTRATION COST see INDIRECT COST.

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EXCISE TAX is a tax imposed by federal, state, and local governments on an act, occupation, privilege, manufacture, sale, or consumption that is not deductible (e.g., tobacco, gasoline and spirits). This term is in increasing usage to describe almost every tax other than income tax and property tax.

AUXILIARY JOURNAL is a journal in which accounting information is stored both before and after the transfer to the General Ledger.

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