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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TURNAROUND DOCUMENT is a document that has been created by a computer to be used for data entry. It is a called a turnaround document because once it has been filled in by users it is then used for input back into the computer. An example of a turnaround document is the mark sheet that is filled in by your teacher. The mark sheet is generated by the computer, filled in by the subject teacher and then used for input back into the computer so that reports can be printed.

APPRECIATION is the increase in the value of an asset in excess of its depreciable cost, which is due to economic, and other conditions, as distinguished from increases in value due to improvements or additions made to it.

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