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Expenditure incurred on consumables and goods for resale is?

Accounts - Principles of Accounts
JAMB 2009

Expenditure incurred on consumables and goods for resale is?

  • A. revenue expenditure
  • B. capital expenditure
  • C. sunk cost
  • D. miscellanous expenses
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Correct Answer: Option A
Explanation

Revenue expenses are incurred when a company purchases products or services necessary for generating revenue in the short term. They include overhead cost, maintenance cost of plants and equiptment.

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