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DK Goel Solutions: Capital and Revenue - Commerce PDF Download

Short Answer Type Questions

Q1: What is Capital Expenditure?
Ans:
Any expenditure which is incurred in obtaining or increasing the value of a fixed asset is known as capital expenditure. Similarly, the total amount spent on the Plant and Machinery, Land and Building, Furniture and fixtures etc., Such expenditure yields benefit over a long period.

Q2: What is Revenue Expenditure?
Ans:
Any expenditure, the benefit of which is received during the current year itself is termed as revenue expenditure. Similarly, all the revenue expenditures are debited to the Trading and Profit and Loss a/c.

Q3: State the difference between Capital Expenditure and Revenue Expenditure.
Ans: 

DK Goel Solutions: Capital and Revenue - Commerce

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