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Which one of the following statements is not true ? (1) an expenditure intended to benefit current year is revenue expenditure. (2) amount paid for acquiring
Which one of the following statements is not true ? (1) An expenditure intended to benefit current year is revenue expenditure. (2) Amount paid for acquiring goodwill is capital expenditure. (3) Wages paid for installation of a new machine is usually debited to wages account. (4) Revenue expenditure is not intended to benefit future period.
2 Answer(s)
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Rucha rajesh shingvekar
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Revenue expenditure are those which give the benefit to the business in the short period of time i.e. a year. These are directly charged to the profit & loss account of that particular year. partly option (4) is also wrong. So logically option (3) is right answer if this happened to exam then you will get marks for that question.
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Rucha rajesh shingvekar
But as per above explanation correct answer is option (3)
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Vikas
But answer is Option 4
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Priya gulani Best Answer
no, fourth option is true as revenue expenditure is not intended to benefit the future period. option 3 is false as by doing so you will commit error of principle answer should be option 3