Legal expenses incurred on a suit for breach of contract to supply goods is a
A. Capital expenditure
B. Deferred Revenue expenditure
C. Revenue expenditure
D. Both 'b' and 'c'
Answer: Option C
Solution(By Examveda Team)
Legal expenses incurred on a suit for breach of contract to supply goods is a Revenue expenditure. A revenue expenditure is a cost that will be an expense in the accounting period when the expenditure takes place.Related Questions on Accounting
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