ocr: Fixed Assets Abusiness can have atleast two types sof expenditure: Revenue Expenditure- - representing expenditure ont goods and services that are consumed in the short term. This includes the cost ofgoods.purchased for resale as well as overhead costs such as rent, rates, electricity etc. Capital Expenditure - representing the cost of acquiring tixed assets. eg: land, buildings, plant and machinery, vehicles, furniture, etc. The matching convention which underpins the Protit andLoss Account attempts to match the revenues which the business earns with the expense incurred in generating this re ...
(.png)
