All receipts from sale of consumable items are treated as:
A) Capital Receipts
B) Revenue Receipts
C) Both (a) and (b)
D) None of these
Correct Answer:
Verified
Q8: Charitable Organizations promote welfare of the common
Q9: A Receipts and Payments Account record only
Q10: Receipts and Payments A/c is a summary
Q11: Out of the following items, which one
Q12: In case specific fund is maintained, the
Q14: Capital fund is calculated:
A)Income-Expenditure
B)Assets Liabilities
C)Capital + Liabilities
D)None
Q15: Subscription received in advance during the current
Q16: Balance of Income and Expenditure Account shows:
A)Cash
Q17: Property received as a result of the
Q18: Receipts and Payments Account usually indicates:
A)Surplus
B)Capital fund
C)Debit
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