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Retention of Records

A Government school acquires a new laboratory containing durable scientific equipment The acquisition cost of qualifying...

Type: MCQ • Marks: 1
A Government school acquires a new laboratory containing durable scientific equipment The acquisition cost of qualifying equipment would generally be:
Options
A. Revenue expenditure
B. Capital expenditure
C. Revenue receipt
D. Contingent liability
Explanation
Durable equipment used over multiple periods generally constitutes capital assets, subject to prescribed capitalization rules.
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