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      Question

      Consider the following items in the two tables and

      choose the Correct Option.
      A I & III Correct Answer Incorrect Answer
      B III & V Correct Answer Incorrect Answer
      C II, III, IV Correct Answer Incorrect Answer
      D I, II, III, IV, V Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Solution- Revenue receipts are those receipts that do not lead to a claim on the government. They are therefore termed non-redeemable. All those receipts of the government which create liability or reduce financial assets are termed as capital receipts.

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