State the basis of classifying government receipts into revenue receipts and capital receipts. Give an example of each.
CBSE OUTSIDE DELHI - SET 1 2006
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Any receipt that reduces assets or creates a liability is a capital receipt. Any receipt that neither creates a liability nor reduces assets is a revenue receipt.Examples: Rev. Receipts - Tax revenue, etc.
Cap. Receipts - Borrowings, etc.
Cap. Receipts - Borrowings, etc.
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