Browse by Stream
My Companion New
Search Colleges, Exams, Schools & more
    • Home
    • QnAHome
    • Question : Income and Expenditure account records: Option 1: Revenue receipts and payments Option 2: Capital receipts and payments Option 3: Only rev ...
    Get answers from students and experts Ask
    6 Views

    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 11th Jan, 2024
    Answer
    Answer (1)
    Team Careers360 14th Jan, 2024

    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.

    Share
    Facebook Copy Link
    More
    Report
    Comments (0)
    Question cannot be greater than 3000 characters
    0/3000
    Get answers from students and experts Ask

    Related Questions

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

    5 Views

    Question : Non-tax revenue is part of ______.

    4 Views

    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:

    2 Views

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

    3 Views

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

    3 Views

    Trending Articles/News

    What is a Good Score in CMAT 2024?
    What is a Good Score in CMAT 2024?
    1 minute ago
    How Much Marks Required to Clear NMAT 2024 Exam?
    How Much Marks Required to Clear NMAT 2024 Exam?
    3 minutes ago
    CLAT Rank 25,000: List of Law schools you can get admission to
    CLAT Rank 25,000: List of Law schools you can get admission to
    3 minutes ago
    TS ECET Counselling 2024 - Final Phase Seat Allotment (Out), Web Option Entry, Certificate, Process
    TS ECET Counselling 2024 - Final Phase Seat Allotment (Out), Web Option Entry, Certificate, Process
    11 minutes ago
    CMAT 2025: Registration (Started), Exam Dates, Syllabus, Pattern, Eligibility, Preparation
    CMAT 2025: Registration (Started), Exam Dates, Syllabus, Pattern, Eligibility, Preparation
    30 minutes ago
    Link Copied
    The question have been saved in answer later, you can access it from your profile anytime. Access now
    Thanks! Your report is submitted, the author will be informed about it

    Download the Careers360 App on your Android phone

    Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

    Careers360 App
    • 150M+ Students
    • 30,000+ Colleges
    • 500+ Exams
    • 1500+ E-books
    • Economic Times
    • Financial Express
    • Firstpost
    • Livemint