In the 14th century, plague ravaged Europe and Asia and was called the Black Death. Plague does not respond to penicillin, but other antibiotics are effective. Sanitary measures against fleas and rodents, quarantine and extreme caution in handling infectious materials help to suppress epidemics.
1. Expense recognition. Expenses are decreases in assets (e.g., rent expenses) or increases in liabilities (e.g., accrued utility expenses) that result from operating activities undertaken to generate revenue. Expenses are recognized in accordance with the matching principle. This principle mandates that the expense or cost of doing business is recorded in the same period as the revenue that has been generated as the result of incurring that expense or cost.
Assets. With regards to assets, revenue expenditures are those that simply maintain an asset for regular use in company operations. For example, maintenance and repairs are expenses that show immediately on the income statement. Even if you hire someone to do an extensive repair, the cost is considered an expense.ecause of the purpose, size and cost of capital expenditures, you do not record them on the income statement as an expense. Instead, you record them on the balance sheet as an asset with any offsetting liability -- for example, the loan used to acquire the asset.