1.Difference between Current Expenditure and Capital Expenditure
Current expenditures(Recurrent expenditure) refers to short term spending that is fully expensed in the fiscal period in which it is incurred.It does not result in creation or aquisition of fixed assets.They are in contrast to capital expenditure,which refers to spending on long term assets that are capitalized and amortized over their useful life.
ii)Ghana experienced fluctuating trends in economic growth since it gained independence.In both long run and short run,government capital expenditure has a significant negative impact on economic growth but recurrent expenditure has a positive effect on economic growth in both long run and short run though it is not significant in the short run.
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