what is revenue, expense & drawing in accounting? [examples]
What is revenue, expense & drawing in accounting? [examples] What is Revenue Expenditure? | ACCOUNTING A company will have different types of expenditure, how will revenue expenditure be treated in the accounts? what is revenue expenditure? Usually, a business will have cash coming in, which is can be known as income, and cash going out which can be referred to as expenditure. Expenditure can be defined as a payment or agreement to make a payment which in return a benefit, asset, or service will be received. Business expenditure can range anything from the purchase of office furniture to paying the petrol bill to refill a van. As there is such a mixture of expenditures, it may be beneficial for a business to categorize them into particular groups as these will possibly be treated differently in the accounts. In the accounting world, there is the idea that is adopted in the practice of categorizing expenditure into two main categories. The main difference between revenue expenditu