Payment of cash or same amount for goods or services, or a charge against available funds in clearance of a duty as proved by a statement, reception, coupon, or other such document is called expenditure.

Revenue Expenditures

Revenue Expenditures: Learning Objectives: Define and explain revenue expenditures. List of revenue expenditures. Definition and Explanation: Expenditures will be treated as revenue expenditures if it is incurred for the following purposes: Expenditure for purchasing floating assets i.e., assets meant for resale at a profit or for being converted