Briefly explain the following with examples: Cash transaction
Credit transaction
Revenue expenditure
Capital expenditure​

Any transaction in cash, either paid or received eg. bought goods from supplier on cash.

Some time supplier offers customer the credit so he can pay later. Bought goods from supplier which are payable in 30 days.

Revenue expenditure is short-term expenditure used to run daily operations eg. Rent, Salaries. These are treated as expense in SOCI.

Where as capital expenditure is one-time large expenditure which generate revenue for company in future. eg Plant and Machinery, Equipment, Furniture. These are capitalized as in SOFP as they meet the definition of Asset (ie Future economic benefits will flow to entity).

i would ask my boss to do more things around the car shop. and i would slowly work my way up to working on cars and becoming a full time mechanic.

turnover

the amount of money taken by a business in a particular period.