Question # 1

Wages paid for the construction of building is an example of

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Revenue expenditure

Capital expenditure

Recurring expenditure

Short-term expenditure

An expenditure, which increases the utility or productive capacity of an asset is treated as

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Revenue expenditure

Capital expenditure

Deferred expenditure

None of these

Expenditure is a capital expenditure because

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The amount involved is heavy

It is the personal expenditure of the owner out of his capital

It is intended to benefit the future period

It is a recurring expenditure

The amount invested by the owner in the business to produce revenue is known as

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Income

Asset

Capital

Liability

Octori duty paid on machinery, is an example of

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Revenue expenditure

Recurring expenditure

Capital expenditure

Both a & b

An expenditure, which is incurred to increase to profit earning capacity of a business concern, is called

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Deferred expenditure

Current expenditure

Capital expenditure

Recurring expenditure

An expenditure, incurred to improve the position of the business is known as

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Deferred expenditure

Revenue expenditure

Capital expenditure

Recurring expenditure

Capitalized expenditure are shown in

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Trading a/c

Profit or loss a/c

Income statement

Balance sheet

Which one of the following is appeared in the balance sheet

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Revenue expenditure

Capital expenditure

Deferred expenditure

Both b & c

Depreciation of fixed assets used in the business is an example of

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capital expenditure

Revenue expenditure

Deferred expenditure

None of these

It is the price of goods sold or services provided by a business to its customers

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Asset

Cost

Capital

Revenue

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Principles of accounting Icom Part 1 English Medium Chapter 13 Online Test MCQs With Answers

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