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John Moffat.
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maximus07
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A question in Kaplan is treating it as revenue expenditure:
Blank taxi receipts printed with Bilbo Baggins’ business name and number.Should not it be treated as Capital expenditure, professor?
John Moffat
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No, it is revenue expenditure.
Capital expenditure is expenditure on non-current assets. Receipts are certainly not non-current assets – they will be used up whenever they give them to customers.
maximus07
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