Question : Which of the following statement are true?
- Grants received from World Bank is the revenue receipt.
- Sale of public sector undertaking 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)
25th Jan, 2024
Correct Answer:
Both are true.
Solution :
Grants received from World Bank is a revenue receipts as it neither create any liability nor reduces any assets of the government.
Sale of public sector undertaking is a capital receipt as it reduces assets of the government.
Hence, Option A is correct.
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