All expenses incurred in case of Trading and Profit & loss account are ___________ in nature.

Revenue

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Capital

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Both (A) and (B)

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None of above

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Solution

The correct option is A Revenue
Expense account are classified as nominal account. As per the rule of nominal account, all expenses and losses are to be debited.
All revenue expenses are either to be debited to the trading or profit & loss account.

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All expenses incurred in case of Trading and Profit & loss account are ___________ in nature.

The correct option is A RevenueExpense account are classified as nominal account. As per the rule of nominal account, all expenses and losses are to be debited. All revenue expenses are either to be debited to the trading or profit & loss account.

The correct option is A Revenue
Expense account are classified as nominal account. As per the rule of nominal account, all expenses and losses are to be debited.
All revenue expenses are either to be debited to the trading or profit & loss account.