HC Deb 20 July 1990 vol 176 c751W
Mr. Austin Mitchell

To ask the Secretary of State for Trade and Industry whether he will seek to amend the Companies Act to provide a statutory definition of(a) revenue, (b) an expense and (c) liability.

Mr. Redwood

No. These terms are in general use and well understood. If definitions are required in particular contexts, that is best dealt with in accounting standards or other professional guidance.

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