Identify the factors that need to be considered in classifying an expenditure as a capital...
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Accounting
Identify the factors that need to be considered in classifying an expenditure as a capital or a revenue expenditure. Are there instances where it may be difficult to classify an expenditure as one or the other (e.g. the purchase of a wastebasket that has a useful life of 5 years and cost $10)? What accounting concept would be used in the decision?
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