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Question
The accounting treatment for revenue expenditure like rent paid insurance etc. is ______.
Options
Income in Trading and Profit and Loss account.
Expense in Trading and Profit and Loss account.
Asset in the Balance Sheet.
Liability in the Balance Sheet.
MCQ
Fill in the Blanks
Solution
The accounting treatment for revenue expenditure like rent paid insurance etc. is Expense in Trading and Profit and Loss account.
Explanation:
Revenue expenditure is shown as an expense in the Trading Account or Profit and Loss Account.
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Difference Between Capital Expenditure and Revenue Expenditure
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