Expenses which do not result in the income earning capacity of the business. 

Assets acquired relatively for long periods.

Which are the total amount of goods procured by a business on credit and on cash for sale?

Purchase of machinery is treated as:

Stock on hand is the amount of goods which are lying unsold as at the end of an accounting period is  called:

Assets acquired with the intention of converting into cash .

Which one is the expense?

Which assets are assets hold on a  short term basis?