{"id":55834,"date":"2024-04-16T00:34:12","date_gmt":"2024-04-16T00:34:12","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=55834"},"modified":"2024-04-16T00:34:12","modified_gmt":"2024-04-16T00:34:12","slug":"statement-i-capital-expenditure-benefits-the-current-accounting-period-statement-ii-capital-expenditure-will-also-benefit-the-next-accounting-period","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/statement-i-capital-expenditure-benefits-the-current-accounting-period-statement-ii-capital-expenditure-will-also-benefit-the-next-accounting-period\/","title":{"rendered":"Statement I Capital expenditure benefits the current accounting period. Statement II Capital expenditure will also benefit the next accounting period."},"content":{"rendered":"<p>\r\n    <!-- Check if it's an AMP page -->\r\n            <!-- Non-AMP version -->\r\n        <div class=\"mcq-container\" data-quiz-id=\"quizState_6a976a5d09024\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"false\">\r\n                    Both statements are correct                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option2\" data-is-correct=\"false\">\r\n                    Both statements are incorrect                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"true\">\r\n                    Statement I is correct, but statement II is incorrect                <\/div>\r\n                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            \r\n            <!-- Feedback messages for non-AMP -->\r\n            <div class=\"feedback\" data-feedback=\"wrong\">Answer is Right!<\/div>\r\n            <div class=\"feedback\" data-feedback=\"right\">Answer is Wrong!<\/div>\r\n        <\/div>\r\n\r\n        <script>\r\n        document.addEventListener('DOMContentLoaded', function () {\r\n            var containers = document.querySelectorAll('.mcq-container');\r\n\r\n            containers.forEach(function(container) {\r\n                var options = container.querySelectorAll('.option');\r\n                var feedbackSelect = container.querySelector('[data-feedback=\"select\"]');\r\n                var feedbackWrong = container.querySelector('[data-feedback=\"wrong\"]');\r\n                var feedbackRight = container.querySelector('[data-feedback=\"right\"]');\r\n\r\n                options.forEach(function(option) {\r\n                    option.addEventListener('click', function() {\r\n                        var selectedOption = option.getAttribute('data-option-key');\r\n                        var isCorrect = option.getAttribute('data-is-correct') === 'true';\r\n\r\n                        \/\/ Remove previous selections\r\n                        options.forEach(function(opt) {\r\n                            opt.classList.remove('correct', 'incorrect');\r\n                        });\r\n\r\n                        \/\/ Add the correct\/incorrect class\r\n                        if (isCorrect) {\r\n                            option.classList.add('correct');\r\n                            feedbackRight.hidden = false;\r\n                            feedbackWrong.hidden = true;\r\n                        } else {\r\n                            option.classList.add('incorrect');\r\n                            feedbackRight.hidden = true;\r\n                            feedbackWrong.hidden = false;\r\n                        }\r\n\r\n                        \/\/ Hide select feedback\r\n                        feedbackSelect.hidden = true;\r\n                    });\r\n                });\r\n            });\r\n        });\r\n        <\/script>\r\n    \r\n    <!--more--><\/p>\n<p>The correct answer is: Statement I is correct, but statement II is incorrect.<\/p>\n<p>Capital expenditure is the cost of acquiring or improving long-term assets. These assets are expected to provide benefits for more than one accounting period. Therefore, statement I is correct.<\/p>\n<p>However, capital expenditure does not necessarily benefit the current accounting period. In some cases, the benefits of capital expenditure may not be realized until future periods. For example, a company may purchase a new piece of equipment that will increase production in future periods. The cost of the equipment would be considered capital expenditure, and the benefits of the equipment would not be realized until future periods.<\/p>\n<p>Therefore, statement II is incorrect.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Join Our Telegram Channel Subscribe on YouTube<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Statement I Capital expenditure benefits the current accounting period. 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