Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Macro Economics: Government Budget and Economy

Question:

Escheat is an example of:

Options:

Capital receipt

Revenue receipt

Capital expenditure

Revenue expenditure

Correct Answer:

Revenue receipt

Explanation:

Escheat is the right of a government to take ownership of estate assets or unclaimed property in the event there are no heirs or beneficiaries. Escheats is an example of revenue receipts because revenue receipts refer to those money receipts which does not create a liability for the government or cause reduction in assets of the government.