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