Question

Classify the following as Revenue income, Capital income, Revenue expense and Capital expense:

1. Income from lectures
2. Purchase of Story and Novel books for library
3. Sale of old magazines and newspapers
4. Prize fund
5. Donation for books
6. Poet conference expenses
7. Income of poet’s conference
8. Repairing expenses
9. Wages for installation of furniture

Answer 1

Revenue income	Capital income	Revenue expense	Capital expense
1. Income from lectures	4. Prize fund	6. Poet conference expenses	2. Purchase of Story and Novel books for library
3. Sale of old magazines and newspapers 7. Income of poet’s conference	5. Donation for books	8. Repairing expenses	9. Wages for installation of furniture