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What is difference between P and L statement and income and expenditure statement?
Income and expenditure account is used by not for profit companies as they are formed for not for profit basis that's why they cannot use profit and loss account.
What are t6he examples of revenue expenditure?
Any asset purchased for short term with the intention to resale it OR any repair, replacement, which is done to maintain a standard of activity level is termed as revenue expenditure. A car purchased for the purpose of resale is revenue expenditure, on the contrary if the car is purchased and is used for the purpose of the company then it is considered as a capital expenditure.
Why it is important to distinguish capital expenditures from revenue expenditures for tax purpose?
Because it is important. Capital expenditure = non-deductible Revenue expenditure = deductible
What is the necessary expense rule three-part test is intended to?
justify the purpose of an expenditure
What are the five advantages of the record on family expenditure statement?
Define computer
What is income expenditure?
A statement that records the income and expenditure of an organization such as a charity,whose main purpose is not the generation of profit.
What is the the necessary expense rule three part test is intended to do?
justify the purpose of an expenditure
Which financial statement summarises income and expenditure?
income statement
What is the duties and responsibilities of a school disbursing officer in Philippine setting?
Maintenance of accounts of expenditure and preparation of monthly expenditure statement
What is GNP and His purpose and limitations?
expenditure in GNP accounting
What is the purpose of optional expenditure?
don't relay know
When a cash surplus exists on your income and expenditure statement you can?
increase your investments
What is difference between P and L statement and income and expenditure statement?
Income and expenditure account is used by not for profit companies as they are formed for not for profit basis that's why they cannot use profit and loss account.
What are t6he examples of revenue expenditure?
Any asset purchased for short term with the intention to resale it OR any repair, replacement, which is done to maintain a standard of activity level is termed as revenue expenditure. A car purchased for the purpose of resale is revenue expenditure, on the contrary if the car is purchased and is used for the purpose of the company then it is considered as a capital expenditure.
The three-part test to determine whether an expenditure is proper under the Purpose Statute consists of the following parts?
The three parts of the Purpose Statute test are: 1) whether the expenditure serves a public purpose, 2) whether the expense is necessary for the public purpose, and 3) whether the expenditure is a reasonable means to achieve the public purpose.
Sample statement of purpose to join hotel industry?
can i know about statement of purpose?
What is WikiPedia's mission statement?
A mission statement is a statement of purpose written by the founders of a company. There is no publicly published mission statement for Wikipedia .
