______ expenditure is incurred for meeting day to day expenses of business and its benefit is exhausted within the current accounting year.

Question

KollegeApply · Accepted Answer

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 the day-to-day requirements of the business. All expenses incurred on the day-to-day administration of a firm and the effect of which is completely exhausted within the current accounting period are called revenue expenditure.

AChoose Your Answer