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Which statement best explains Revenue expenditure?

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Question ID #25872 UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC Accounting Principles Sectional Test 2026 Medium

Which statement best explains Revenue expenditure?

Correct Answer: B. Expenditure whose benefit is generally consumed within the current accounting period
Revenue expenditure: Expenditure whose benefit is generally consumed within the current accounting period

Question: Which statement best explains Revenue expenditure?

A. Inventory remaining unsold at the end of an accounting period

B. Expenditure whose benefit is generally consumed within the current accounting period

C. Statement listing ledger balances to test arithmetical agreement of debits and credits

D. Book of original entry in which transactions are first recorded chronologically

Correct Answer: B. Expenditure whose benefit is generally consumed within the current accounting periodRevenue expenditure: Expenditure whose benefit is generally consumed within the current accounting period

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Which statement best explains Revenue expenditure? - MCQ Explanation

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Correct answer: B. Expenditure whose benefit is generally consumed within the current accounting period