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Which of the following is a Revenue Expenditure?

(a) Construction of Factory shed.

(b) Sales Tax paid in connection with purchase of Office Equipment.

(c) Legal Expenses in connection with defending a title to firm’s property.

(d) License fees

Revenue Management Accounting Increasing Revenue Leadership Management
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Question ajoutée par Mohammed Asim Nehal , M Asim Nehal & Co , Chartered Accountants
Date de publication: 2015/08/09
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Abdur Rahim
par Abdur Rahim , Head Accountant , MAPCo. LLC

C is the correct answer as legal expenses in connection with defending a title will be expensed each year.In A the construction of factory shed will be capitalised and booked as an assetIn B Sales tax will be added to the cost of office equipment and will be capitalized. In D license fee will be capitalized  

Mohammed Asim Nehal
par Mohammed Asim Nehal , M Asim Nehal & Co , Chartered Accountants

Correct answer is (c) Legal Expenses in connection with defending a title to firm’s property.

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