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Question
Revenue receipts in the government's budget:
Options
create liability
reduce liability and create assets
reduce assets
keep liability and assets unaltered
Solution
keep liability and assets unaltered
Explanation:
Revenue receipts in the government's budget relate to the income received by the government from various sources, including tax and non-tax revenue. These receipts do not create liabilities because they are not borrowed funds nor do they create assets; rather, they are recorded as an increase in the government's financial resources. As a result, they neither create liabilities nor alter assets directly.
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Answer in detail:
Explain capital receipts and capital expenditure as a part of Capital Budget.
One of the two components of government budget is ______.
One of the two components of the Revenue budget is ______.
One of the two components of Capital budget is ______.
|
2019-2020 वास्तविक Actuals |
||
| 1. | Revenue Receipts | 1684059 |
| 2. Tax Revenue (Net Tax Revenue) | 1356902 | |
| 3. Non-Tax Revenue | 327157 | |
| 4. | Capital Receipts | 1002271 |
| 5. Recovery of Loans | 18316 | |
| 6. Others Receipts | 50304 | |
| 7. Borrowings and Other Liabilities | 933651 | |
| 8. | Total Receipts (1 + 4) | 2686330 |
| 9. | Total Expenditure (10 + 13) | 2686330 |
| 10. On Revenue Account | 2350604 | |
The percentage change in the Non-Tax Revenue, between 2019-20 (Actual) and 2020- 21(Budgeted Estimate), taking 2019-20 as base, would be ____________.
|
2019-2020 वास्तविक Actuals |
||
| 1. | Revenue Receipts | 1684059 |
| 2. Tax Revenue (Net Tax Revenue) | 1356902 | |
| 3. Non-Tax Revenue | 327157 | |
| 4. | Capital Receipts | 1002271 |
| 5. Recovery of Loans | 18316 | |
| 6. Others Receipts | 50304 | |
| 7. Borrowings and Other Liabilities | 933651 | |
| 8. | Total Receipts (1 + 4) | 2686330 |
| 9. | Total Expenditure (10 + 13) | 2686330 |
| 10. On Revenue Account | 2350604 | |
Identify which of the following is not an example of tax revenue for the government:
The excess of government expenditure over government income is termed as ______
In S = −a + (1 − b) Y, 'a' denotes
What are the objectives of budgetary policies?
Match the following
| A. | It does not create assets for the government | a. | fiscal deficit |
| B. | It results in the creation of assets. | b. | Revenue expenditure |
| C. | It is the excess of total expenditure over total receipts. | c. | Capital expenditure |
Which is a component of the Budget?
How are revenue receipts different from capital receipts in a budget? Give one example of each receipt.
