Payment is the transfer of value of an object from one individual to other. Payments are in different forms that are in form of cash, services, bills, notes, cheques etc. In older times payments were made by simplest way that is barter trade in which things are exchanged with things.
Capital and Revenue Receipts, Payments, Profits and Losses: Learning Objectives: Define and explain and give examples of capital and revenue receipts and payments? Define and explain and give examples of capital and revenue profits and losses? Contents: Capitalized and Revenue Receipts Capital and Revenue