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Question
A receipt in substitution of an income is revenue receipt.
Options
True
False
MCQ
True or False
Solution
This statement is True.
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Distinction Between Capital and Revenue Receipts
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Chapter 6: Capital and Revenue Expenditure/Income - EXERCISES [Page 84]
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RELATED QUESTIONS
Write any two differences between:
Capital and Revenue Receipts
A receipt is a capital receipt:
Rent received and commission received are examples of ______.
What are revenue receipts?
Give three examples of Revenue receipts.
Distinguish between Capital Receipts and Revenue Receipts.
Amount received on sale of assets is a ______ receipt.
Amount received on sale of stock-in-trade is a ______ receipt.
Any lump sum receipt is always a capital receipt.
Sale of securities by an investment company is a capital receipt.
