State with reason whether the following are Capital or Revenue Expenses,
(i) Excise duty paid on purchase of new machine
(ii) Wages paid to install a machine
(iii) Repairs carried out on existing car.
(iv) Office block of building repainted for Rs 50,000.
(v) Paid telephone bill Rs 2,500

Answer

Capital Expense - (i); (ii); Revenue Expense - (iii), (iv) and (v)