Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Admission of a Partner

Question:
Advertisement suspense is what type of expenditure?
Options:
Revenue expenditure
Capital expenditure
Deferred revenue expenditure
None of these
Correct Answer:
Deferred revenue expenditure
Explanation:
Advertisement Suspense is deferred revenue expenditure which is considered as an accumulated loss for a partnership firm. It exists on the Assets side of the Balance Sheet.