Which of the following statement/statements are true? Statement 1: The receipts of interest, fees, and dividends by the government are known as non-tax revenue receipts. Statement 2: There are three types of revenue receipts.

Both the statements are true. Both the statements are false. Statement 1 is true and Statement 2 is false Statement 2 is true and Statement 1 is false

Statement 1 is true and Statement 2 is false

There are two types of revenue receipts – tax and non-tax. That is why statement 2 is incorrect. Statement 1 is correct. The receipts of interest, fees, and dividends by the government are known as non-tax revenue receipts.