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CAPITAL AND REVENUE EXPENDITURE/INCOME — Commercial Studies STD 10 — Question

ICSE BoardEnglish MediumSTD 10Commercial StudiesCAPITAL AND REVENUE EXPENDITURE/INCOME1 Mark
MCQ
A receipt is a capital receipt:
  • A
    if it satisfies any one of the two conditions: The receipts must create a liability for the government. The receipts must cause a decrease in the assets.
  • B
    Borrowings are capital receipts as they lead to an increase in the liability of the government.
  • ✓
    Both (A) and (B)
  • D
    None of these
✓

Answer

Correct option: C.
Both (A) and (B)
C

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