JAMB Accounting 2016 Objective — Question 22

Question 22 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2016 Objective paper, with the correct answer and a full explanation.

22. The cost of acquiring fixed assets and bringing then into the firm is a (a) general expenses (b) revenue expenditure (c) capital expenditure (d) recurrent expenditure

A. general expenses
B. revenue expenditure
C. capital expenditureCorrect
D. recurrent expenditure

Explanation

The cost of the asset and related cost to get it in use will form part of the capital expenditure of acquiring the asset.

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