MCQOPTIONS
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| 1. |
Which of the following should not be treated as revenue expenditure? |
| A. | Interest on loans and debentures |
| B. | Annual fire insurance premiums on Plant and Equipment |
| C. | Sales tax paid in connection with the purchase of office equipment |
| D. | Small expenditures on long- lived assets, such as ` 20 for a paper weight. |
| Answer» D. Small expenditures on long- lived assets, such as ` 20 for a paper weight. | |