Question: 1.When dealing with a long-term (capitalized) asset such as a machine, how do you treat items such as expenditure for transportation, insurance, installation, and so

1.When dealing with a long-term (capitalized) asset such as a machine, how do you treat items such as expenditure for transportation, insurance, installation, and so forth for a machine that has just been purchased? Do you expense these items on the income statement or record them differently?

2.And on a slightly different tack, what is the difference between a capital expenditure and a revenue expenditure?

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