JAMB Accounting 2009 Objective — Question 48

Question 48 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2009 Objective paper, with the correct answer and a full explanation.

48. Replacement and renewal of fixed assets are

A. revenue receipt
B. capital receipt
C. capital expenditureCorrect
D. revenue expenditure

Explanation

Replacement and renewal of fixed assets do not occur every year; such non-recurring expenditure is treated as capital expenditure.

Sign up free to unlock

Score tracking
Practice history
Saved questions
Progress dashboard
Personalized sessions
Weak-topic breakdown

…and/or go further with premium services and No Ads.

Create free account

More questions from Accounting 2009 Objective More Accounting past papers