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WAEC Financial Accounting 2001 Question 48

Question 48

Public Sector Accounting

The expenditure on a good or service which is consumed either immediately or within a current accounting period is

  1. A.annual expenditure
  2. B.budgetary expenditure
  3. C.capital expenditure
  4. D.recurrent expenditure.
Show the answer and explanation

Answer: D (recurrent expenditure.)

Explanation

Spending used up within the period is recurrent expenditure.