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Question
______ expenditure is incurred for meeting day to day expenses of business and its benefit is exhausted within the current accounting year.
Options
Capital
Revenue
Deferred Revenue
Capital Receipts
Solution
Revenue expenditure is incurred for meeting day to day expenses of business and its benefit is exhausted within the current accounting year.
Explanation:
Revenue expenditure is incurred for meeting day to day requirements of business. All expenses incurred on day-to-day administration of a firm and the effect of which is completely exhausted within the current accounting are called revenue expenditure.
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