Floating Assets

Floating Assets is an asset that is repeatedly changing in quantity and/or value, such as amount of accounts receivable, cash, inventory, outstanding shares.

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