If some item of revenue expenditure is misclassified as capital expenditure, it can be said that this objective is not met
A)Existence
B)Disclosure
C)Completeness
D)Occurrence

Question

Quizplus · Accepted Answer

Disclosure is not met because the financial statements do not accurately represent the nature of the transactions, leading to a misclassification between revenue and capital expenditure.

If Some Item of Revenue Expenditure Is Misclassified as Capital