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Indirect tax is a type of tax that is passed on to another individual or entity.

Bookkeeping is responsible for the recording of financial transactions whereas accounting is responsible for interpreting.

Auditing is defined as the on-site verification activity, such as inspection or examination, of a process or quality system, to ensure compliance to requirements.

A direct tax is a tax that a person or organization pays directly to the entity that imposed it. Examples include income tax, real property tax, personal property tax.

ROC filing refers to submitting various documents and returns to the Registrar of Companies.