Reference no: EM132735304

Imagine that a person treated themselves like an asset in a business and whenever they spent money on themselves, they treated it like an expenditure. Provide examples for what would be considered a revenue expenditure, a capital expenditure of asset improvement, and a capital expenditure of extraordinary repair for a person considering themselves an asset. For example, a haircut would be like a revenue expenditure, cosmetic surgery would be like a capital expenditure of asset improvement, and a heart transplant would be like a capital expenditure of extraordinary repair.

Problem 1: Show at least one example for each of the three expenditures and explain why you chose that example. Use your own, original examples.