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  • Accounting & Finance for Bankers - 1 (JAIIB)
  • Old furniture was purchased for Rs. 40,000. It was repair...
Multiple choice

Old furniture was purchased for Rs. 40,000. It was repaired for Rs. 400. The repairs account should be debited by

  1. Rs. 10,000

  2. Rs. 10,100

  3. Rs. 100

  4. Nil

Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

It is a capital expenditure as capital expenditure is money invested by a company to acquire or upgrade fixed assets.

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