What are the examples of revenue expenditure?

Examples of revenue expenditure include rent, utilities, and office supplies. Capital expenditure, also known as a capital expense or Capex, is the expense that is used to acquire a capital asset. This asset is a long-term asset that is used to improve how the business functions by boosting efficiency.

What are the revenue expenditure of the government?

Those expenditures of the government that do not lead to the creation of fixed assets are called revenue expenditures. The government spends money under various accounting heads, such as paying interest on loans, salaries and pensions, subsidies, spends on different ministries and departments, etc.

What is an example of government expenditure?

Public welfare includes spending on means-tested programs, such as Medicaid, Temporary Assistance for Needy Families, and Supplemental Security Income. Spending on health and hospitals was another 10 percent of state and local direct expenditures. Medicaid constitutes a large and growing portion of state spending.

What is an example of government revenue?

(1) Various tax revenues, including value added tax, business tax, consumption tax, land value added tax, tax on city maintenance and construction, resources tax, tax on use of urban land, enterprise income tax, personal income tax, tariff, stamp tax on security transactions, tax on purchase of motor vehicles, tax on …

What are the 5 major sources of revenue for the government?

The 5 major sources of revenue for the Government are Goods and Services Tax (GST), Income tax, corporation tax, non-tax revenues, union excise duties .

What is capital and revenue expenditure with examples?

Difference between Capital and Revenue Expenditure
ParametersCapital ExpenditureRevenue Expenditure
ExamplesPurchase of Machinery or patent, copyright, installation of equipment and fixture, etc.Wages, salary, utility bills printing and stationery, inventory, postage, insurance, taxes and maintenance cost, among others.

What are the 4 primary sources of government revenue?

The local revenue sources fall into four categories: property taxes, fees, miscellaneous revenues, and intergovernmental transfers from the federal government and California.

What are three sources of government revenue?

State and local governments collect tax revenues from three primary sources: income, sales, and property taxes. Income and sales taxes make up the majority of combined state tax revenue, while property taxes are the largest source of tax revenue for local governments, including school districts.

What is the most important source of revenue for the government?

Taxation is the main source of government revenue around the world.

What are the sources of government revenue in Nigeria?

Oil revenue

Petroleum profit tax. Rent. NNPC’s earning from direct sales, sales of gas (crude oil sales). Proceeds from the domestic market.

What is revenue expenditure class 11?

DK Goel Accountancy Class 11 Solutions – Chapter 20

What is Revenue Expenditure? Answer: Any expenditure, the benefit of which is received during the current year itself is termed as revenue expenditure. Similarly, all the revenue expenditures are debited to the Trading and Profit and Loss a/c. Question 3.

What are the sources of government revenue in Nepal?

They include customs duty, excise duty, value added tax (VAT), corporate income tax, personal income tax, employees compensation tax, passport charges, visa fees, tourism charges, service fees and fines and penalty. VAT, income tax, customs duty and excise duty are the largest contributors to the government revenue.

What are the main sources of revenue for state governments?

The largest sources of state revenues are individual income taxes and state sales and use taxes, followed by severance taxes.

What are the sources of revenue for state government?

Given below is the list of sources from which State Governments may raise money:
  • States’ share of Central Taxes. According to the Constitution of India, the Union Government is required to share a part of all the tax revenue that it raises with State Governments. …
  • States’ Own Tax Revenue. …
  • States’ Non-Tax Revenue. …
  • Borrowings.