Money spent to acquire or upgrade physical assets is known as
A. Revenue expense
B. Capital expense
C. Administrative expense
D. Operating expense
Answer: Option B
Solution(By Examveda Team)
Money spent to acquire or upgrade physical assets is known as Capital expense, as the asset is expected to be utilised in a long run.This Question Belongs to Commerce >> Accounting
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Accounting provides information on
A. Cost and income for managers
B. Company's tax liability for a particular year
C. Financial conditions of an institutions
D. All of the above
The long term assets that have no physical existence but are rights that have value is known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Patents, Copyrights and Trademarks are
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
How?