REVENUE EXPENDITURE Definition

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REVENUE EXPENDITURE is the cost of resources consumed or used up in the process of generating revenue, generally referred to as expenses.

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BANK BASE RATE is the annual interest rate on which British banks calculate lending charges (minimum lending rate).

CONTINGENT ASSET is a possible asset from past events whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the enterprise.

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