Capital & Revenue- CLASS 11TH
Practice Worksheet
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Property purchased for Rs. 200,000 and Rs. 1,50,000 paid for its registration and legal fee. Identify the type of expenditure.
1 point
Damages paid by a transport company to its passengers injured in an accident. Identify the nature of expense.
1 point
Erection of cycle shed for parking of vehicles at a cost of Rs. 1,00,000. Identify the type of expense.
1 point
Capital Expenditures are recurring in nature True or False?
1 point
The revenue receipts are shown on the credit side of the Trading and Profit & Loss A/c. True or False?
1 point
Capital introduced by an entrepreneur is an example of ........................... nature of receipts.
1 point
The unwritten off portion of deferred revenue expenditures are shown on:
1 point
Clear selection
A property dealer demolished an old building which caused him Rs. 500,000. The he purchased a land of RS. 20,00,000  and got a new building constructed which cost him Rs. 40,00,000. To bring the building in usable form he incurred Rs, 15,00,000. The cost of building that will be recorded in the books of accounts is :
1 point
Clear selection
Which one is the correct example of Revenue Receipt?
1 point
Clear selection
Smart Ltd. introduced a new model of mobile phone. It incurred huge amounts on its advertisement. The accountant of the firm showed the entire amount incurred on Dr. side of P/L A/c. Was he right in doing so?
1 point
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