Question

Q. 1. State with reasons whether the following statements are True or False: 5
(a) Legal fees paid to acquire a property is capital expenditure.
(b) Advance received from a supplier is not taken as income or sales.
(C) Calibre or quality of management team is not directly disclosed in the
balance sheet.
(d) Deferred revenue expenditure is current year's revenue expenditure to
be paid in later years.
(e) Depreciation is decrease in the market value of a fixed asset.
Ansta Tre Tool face paid to
no​

Answer 1

Answer:

(a)False

(b)False

(c)False

(d)True

(e)False

Explanation:

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