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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