Question : Which of the following statement are true?
- Foreign aid against earthquakes victim is revenue expenditure.
- Dividends on investment made by government is capital receipts.
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)
20th Jan, 2024
Correct Answer:
Both are false.
Solution :
Foreign aid against earthquakes victim is revenue receipt as it neither creates any liability no reduces any assets of the government
Dividends on investment made by government is revenue receipts as it neither creates any liability no reduces any assets of the government
Hence, Option B is correct.
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