Revenue is the total amount received after every type of deductions. Revenue is computed by multiplying price of goods to the number of goods sold. Revenue is also termed as “REVs”.

Revenue Expenditures

Revenue Expenditures: Learning Objectives: Define and explain revenue expenditures. List of revenue expenditures. Definition and Explanation: Expenditures will be treated as revenue expenditures if it is incurred for the following purposes: Expenditure for purchasing floating assets i.e., assets meant for resale at a profit or for being converted

Capital and Revenue Items

Capital and Revenue Items and goods Learning Objectives: Define explain and give examples capital and revenue expenditures, receipts, payments, profits and losses. What is the difference between capital and revenue expenditures? What are the exceptions to the general rule of capital and revenue expenditures?