Practicing Success
Which of the following is not a capital receipt? i. Recovery of Loans ii. Foreign Grants iii. Profits of Public Enterprise iv. Interest received on loan |
i, ii, iii ii, iii, iv i, iii, iv iii, iv |
ii, iii, iv |
Foreign Grants, Profits of Public Enterprise and Interest received on loan are revenue receipts and not capital receipts as they do to lead to creation of an asset or reduction in liability. |