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justify the purpose of an expenditure
expenditure in GNP accounting
A statement that records the income and expenditure of an organization such as a charity,whose main purpose is not the generation of profit.
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.
A. The "Purpose Statute" provides that agencies shall apply appropriations only to the objects for which the appropriations were made, except as otherwise provided by law. 31 U.S.C. § 1301(a). B. Three-Part Test for a Proper Purpose. The Comptroller General has determined the following three conditions must be met in order to expend appropriated funds: 1. The expenditure of an appropriation must be for a particular statutory purpose, or necessary and incident to the proper execution of the general purpose of the appropriation. 2. The expenditure must not be prohibited by law. 3. The expenditure must not be otherwise provided for; it must not fall within the scope of some other appropriation.
Because it is important. Capital expenditure = non-deductible Revenue expenditure = deductible
justify the purpose of an expenditure
justify the purpose of an expenditure
justify the purpose of an expenditure
The expenditure must bear a logical relationship to the appropriation sought to be charged
Credit is neither an income or an expenditure. It becomes an expenditure when you use it. expenditure
expenditure