Question : Income and Expenditure account records:
Option 1: Revenue receipts and payments
Option 2: Capital receipts and payments
Option 3: Only revenue receipts
Option 4: Only capital payments

Question

Question : Income and Expenditure account records:

Option 1: Revenue receipts and payments

Option 2: Capital receipts and payments

Option 3: Only revenue receipts

Option 4: Only capital payments

Team Careers360 · Accepted Answer

Correct Answer: Revenue receipts and payments

Solution : All the expenses and losses of the revenue nature are recorded on the debit side of income and expenditure account while all the incomes and gains of the revenue nature are recorded on its credit side.
Hence, the correct option is 1.

Exams

Colleges

Predictors

Resources

Quick links

B.Tech CompanionUse Now Your one-stop Counselling package for JEE Main, JEE Advanced and BITSAT

Exams

Colleges & Courses

Predictors

Resources

Exams

Colleges

Predictors & E-Books

Resources

Engineering Preparation

Medical Preparation

Online Courses

Products

Exams

Colleges

Resources

Exams

Colleges

Predictors & Articles

Resources

Exams

Colleges

Predictors

Resources

NEET CompanionUse NowYour one-stop Counselling package for NEET, AIIMS and JIPMER

Exams

Colleges

Upcoming Events

Resources

Exams

Colleges

Resources

Quick Links

Top Streams

Specializations

Resources

Top Providers

Exams

Colleges

Resources

Diploma Colleges

Exams

Colleges

Resources

Exams

Resources

Top Courses & Careers

Colleges

Exams

Upcoming Events

Resources

Other Exams

Exams

Colleges

Top Countries

Student Visas

Exams

Top Schools

Products & Resources

NCERT Study Material

Question : Income and Expenditure account records:Option 1: Revenue receipts and paymentsOption 2: Capital receipts and paymentsOption 3: Only revenue receiptsOption 4: Only capital payments

Related Questions

Question : Income and expenditure account records income and expenditure of :

Question : Non-tax revenue is part of ______.

Question : In a government budget, revenue receipts = 13200, revenue expenditure = 14700, capital receipts net of borrowings = 4000, capital expenditure = 17300, and interest payments = 2350, fiscal deficit will be:

Question : The revenue deficit is calculated as ____________ minus revenue receipts.

Question : The government budget is classified into ____________ and ____________.

Trending Articles/News

Sign In/Sign Up

Download the Careers360 App on your Android phone

B.Tech CompanionUse Now
Your one-stop Counselling package for JEE Main, JEE Advanced and BITSAT

NEET CompanionUse Now
Your one-stop Counselling package for NEET, AIIMS and JIPMER

Question : Income and Expenditure account records:
Option 1: Revenue receipts and payments
Option 2: Capital receipts and payments
Option 3: Only revenue receipts
Option 4: Only capital payments

Question : The government budget is classified into and .