Question

current expenditure is money spent on goods and services consumed within:


A) one year

B) three years

C) five years

D) ten years

​

Answer 1

Answer:

A) one year

Explanation:

As the name implies, current expenditure is an accounting term used to classify the total cost incurred on an item presently (or currently) within one year.

For example, It would be out of place to classify the projected cost of renting a facility in the next three years as a current expenditure if payment would be made in the future.