chapter  X
20 Pages

PUBLIC ACCOUNTS

Capital expenditure has been referred to a number of times in the foregoing paragraphs. It is important the allocation of expenditure between revenue and capital account should be correctly made. In the case of the commercial departments it is obviously very essential to classify expenditure on a scientific basis. To know whether a business corporation has been a success from the financial point of view, one has to see whether it can meet its expenditure from its income without in any way impairing

Revenue. Expenditu·re.