Revenue Expenditure:-
Revenue Expenditure is
an expenditure which is expend as occurred. It has no further utility so it
is expend in the income statement.
For example Salary,
Utility expenses, Rent Payments e.t.c
Tuesday, December 9, 2014
What is Finance Costs
Finance Costs: Finance costs are those costs
associated with providing the permanent, long term and short term
finance. That is, within the section headed finance costs we will find
dividends, interest on long term loans and interest on short term loans e.t.c.
What is Fixed Asset
Fixed Asset:-
Fixed Assets are long
term assets with a maturity of more than one year.
Examples are
- Equipments
- Furniture s
- Fixtures
- Machinery
- Goodwill
What is Current Liability
Current Liability:-
Current Liabilities are
short term Liabilities with a maturity of one year or less.
Examples are
- Account payable
- Accrued expenses
- Bank over Draft
- Income tax Payable
What is Current Asset
Current Asset:-
Current assets are
short term assets with a maturity of one year or less.
Examples are
- Cash
- Marketable Securities
- Inventories
- Short term Investments
- Accounts Receivable
- Prepaid Expenses
What is Long Term Liability
Long Term Liability:-
Long Term Liabilities
are Liabilities with a maturity of more than one year
For Example
Long term Bank Loans
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