Distinguish between revenue receipts and capital receipts. Give an example of each.
CBSE OUTSIDE DELHI - SET 1 2013
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Revenue receipts are receipts that neither reduce assets nor create a liability whereas capital receipts are receipts that either create a liability or reduce assets. Example:Revenue receipts: Interest received, etc.
Capital receipts: Borrowings, etc.
Capital receipts: Borrowings, etc.
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