Which of the following expenditures are to be treated as revenue expenditure?
I. Interest paid on money borrowed during construction period
II. Cost of patent rights
III. Loss of uninsured stock due to fire
IV. Retirement gratuity paid to an employee
Select the correct answer using the options given below:
A. I, II and III
B. II, III, and IV
C. III and IV
D. I and II
Answer: Option C
This Question Belongs to Commerce >> Accounting
Related Questions on Accounting
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
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