Which one of the following will be treated as revenue expenditure?
A. Cost incurred for a new exit as required under the local bodies, by laws
B. Interest paid on loan during the construction of works
C. Cost of pulling down on old building as also the payment made to the architect for the plan of a new building
D. A dealer in purchases sewing machines and spends some money on the repair of the machines damaged while goods in transit
Answer: Option A
This Question Belongs to Commerce >> 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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