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Question

Which of the following can be defined as those that neither create any liability nor cause any reduction in the government's assets?

A Capital Account Correct Answer Incorrect Answer
B Capital Receipts Correct Answer Incorrect Answer
C Revenue Receipts Correct Answer Incorrect Answer
D Saving Account Correct Answer Incorrect Answer
E None of the above Correct Answer Incorrect Answer

Solution

Revenue receipts can be defined as those that neither create any liability nor cause any reduction in the government's assets.

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