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  • Expenditures are classified into capital and revenue based on their nature, materiality, frequency of occurrence, etc.
  • Capital expenditure is an item of balance sheet and revenue expenditure appears in profit and loss account.
  • Deferred revenue expenditure is the expenditure for which the payment has been made or liability has been incurred but which is carried forward on the presumption that it will be of benefit over a subsequent period or periods.
  • Receipts are also classified into capital and revenue receipts.

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