Which one of the following is NOT true about revenue expenditure?
A. These are the running expenses of the business
B. They improve the financial position of the business
C. They reduce the profit of the concern
D. They do not appear in the balance sheet
Answer: Option B
Solution(By Examveda Team)
Revenue expenditure does not improve the financial position of the business. Revenue expenditures are typically referred to as ongoing operating expenses.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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