Fred Owns a Delivery Truck

question 70

Multiple Choice

Fred owns a delivery truck. Which of the following costs, associated with the truck, will be treated as a revenue expenditure?

• A)oil change and lubrication
• B)major engine overhaul
• C)modification for new use
• D)addition to storage capacity

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Definitions:

Wholesalers

Entities involved in the distribution process, typically selling goods in large quantities to retailers, other merchants, or industrial, commercial, and institutional users.

Principle-Based Statement

A declaration or assertion that is grounded in established principles or fundamental truths.

Code of Ethics

A set of principles and standards that guides ethical professional conduct and decision making within an organization.

Ethical Tolerances

The degree to which behavior deviating from ethical norms is accepted or allowed within a group, organization, or society.