Revenue expenditure is recorded as expenses in Income Statement. Examples of revenue expenditure are office rentals, utilities such as water & electricity, printing & stationery & etc.. Revenue expenditure also includes those incurred to maintain the earning capacity of non-current assets such as repairs and maintenance. It is the expenditure on goods or services [...]
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When a business entity spends money (or purchase on credit) to acquire goods or services, a decision need to be made as to the purpose and nature of the expenditure. The questions asked include something along these lines:- What did I pay for? |
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