EXPENDITURE

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Definitions

the org buys a truck for -f 500. After a year, that truck could not be resold for -f 500 because it has been used and is now second-hand. Say that the org could now resell the truck for f300-this shows that the value of the truck has gone down by k 200 because of the passage of time. The amount by which the value of the truck has gone down is an expenditure because that amount of value has been used up during the year (HCO PL 10 Oct 70 I)