GK
ACCOUNTING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
The expired portions of capital/deferred revenue expenditures and revenue expenditures (adjusted for outstanding and prepaid expenses) are regarded as
|
|
Loss
|
|
|
Expenses
|
|
|
Payments
|
|
|
All of the above
|
Explanation:
Detailed explanation-1: -Deferred Revenue expenditure are usually large in amount and benefits are not consumed within the same accounting period. Part of the amount is shown in profit and loss account and is reduced from total expenditure and rest is shown in balance sheet.
Detailed explanation-2: -In business, Deferred Revenue Expenditure is an expense which is incurred while accounting period. And the result and benefits of this expenditure are obtained over the multiple years in the future.
There is 1 question to complete.