Choose the wrong statement
A. |
Overhaul expenses of secondhand machinery purchased are revenue expenditure
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B. |
Legal fee to acquire property is capital expenditure
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C. |
Expenses in connection with obtaining a licence for running the cinema is capital expenditure
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D. |
Amount spent for the construction of temporary hunts, which were necessary for the construction of the cinema house and were demolished when the cinema house was ready, is capital expenditure
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Option: A Explanation : Click on Discuss to view users comments. |
A. | 1 and 3 are correct |
B. | 1 alone is correct |
C. | 2, 3 and 4 are correct |
D. | 1, 2, 3 and 4 are correct |
Option: A Explanation : Click on Discuss to view users comments. |
Accounting is concerned with
A. | Monetary transactions |
B. | Non-monetary transactions |
C. | Monetary and non-monetary transactions |
D. | None of the above |
Option: A Explanation : Click on Discuss to view users comments. |