Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Cash Flow Statement

Question:
Income tax refund is a ____________ Of fund:
Options:
Source
Application
Both 1 and 2
None of the above
Correct Answer:
Source
Explanation:
An income tax refund represents funds that are being returned to the taxpayer, which is considered a source of funds. It is a reversal of an earlier payment made to the government and increases the available funds to the taxpayer.