a), Fixed Assets are required to be recorded at cost upon acquisition. Provide two examples of types of costs that must be included in the initial acquisition cost.

b). What is the difference between Capital Expenditure and Revenue Expenditure? Please do not define either of them the question asked is for their difference.

c). Provide the name of the Financial Statement that you would expect to find each of the following in: i) Capital Expenditure. ii) Revenue Expenditure

d). Assume that you know the useful life and residual value of a given Fixed Asset can you determine the depreciation expense just from that information? If not, are there any factor(s) missing?

e). If a business incurs Capital Costs to improve the flooring and painting of their storefront, what kind of cost is this generally referred to as?