Which of the following statements are true about capital receipts? a) All those receipts of the government which create liability or reduce financial assets are termed as capital receipts. b) The estimates of capital receipts take into account the effects of tax proposals made in the Finance Bill . c) These receipts can be debt creating or non-debt creating.

a, b and c a and b b and c a and c

a and c

The estimates of revenue receipts take into account the effects of tax proposals made in the Finance Bill .