What expense category does workman's comp insurance come under?

There is no definitive answer to this question, as the correct expense category for Workman's Comp insurance will depend on the specific business and its accounting practices. However, some common expense categories that Workman's Comp insurance could fall under include:

Insurance

This is the most common category that Workman's Comp insurance will fall under. Insurance is a broad category that can encompass many different types of insurance, including Workman's Comp.

Employee Benefits

Another common category for Workman's Comp insurance is employee benefits. This is because Workman's Comp insurance is a type of insurance that is provided to employees to help protect them in the event of an injury at work. As such, it can be seen as a benefit that is provided to employees.

Safety

Another category that Workman's Comp insurance could fall under is safety. This is because Workman's Comp insurance is designed to help protect employees in the event of an injury at work. By providing this type of insurance, businesses are effectively investing in the safety of their employees.

Human Resources

Another possible category for Workman's Comp insurance is human resources. This is because this type of insurance is typically managed by the human resources department in a business. As such, it can be seen as a human resources expense.

Conclusion

There is no definitive answer to the question of which expense category Workman's Comp insurance falls under. The correct answer will depend on the specific business and its accounting practices. However, some common expense categories that Workman's Comp insurance could fall under include insurance, employee benefits, safety, and human resources.

The information provided in this article does not constitute legal or financial advice and is for general informational purposes only. Please check with an attorney or financial advisor to obtain advice with respect to the content of this article.

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