Interest on deposits accepted
Annual insurance premium on inventory
Customs duty paid in connection with the import of equipment
Repairs and maintenance on machinery
✅ The correct answer is C.
Customs duty paid in connection with the import of equipment is not an item of revenue expenditure. Customs duty paid on import of raw materials. It is capital expenditure.
Customs duty paid in connection with the import of equipment is not an item of revenue expenditure. Customs duty paid on import of raw materials. It is capital expenditure.