Which of the following is not an item of revenue expenditure?

A. Interest on deposits accepted

B. Annual insurance premium on inventory

C. Customs duty paid in connection with the import of equipment

D. Repairs and maintenance on machinery

Answer: Option C

Solution(By Examveda Team)

Customs duty paid in connection with the import of equipment is not an item of revenue expenditure. Customs duty paid on import of raw materials. It is capital expenditure.