Practicing Success
Escheat is an example of: |
Capital receipt Revenue receipt Capital expenditure Revenue expenditure |
Revenue receipt |
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. |