Question : Which of the following statement are true?
- Borrowings from public is the revenue receipt.
- Fees of government College is a capital receipt
Option 1: Both are true.
Option 2: Both are false.
Option 3: Statement 1 is true, statement 2 is false.
Option 4: Statement 1 is false, statement 2 is true.
Answer (1)
24th Jan, 2024
Correct Answer:
Both are false.
Solution :
Borrowings from public is the capital receipt as it creates liability for the government.
Fees of government College is a revenue receipt as it neither creates any liability nor reduces any assets of the government.
Hence, Option B is correct.
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