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Question
A receipt is a capital receipt:
Options
If it satisfies any one of the two conditions: The receipts must create a liability for the government. The receipts must cause a decrease in the assets.
Borrowings are capital receipts as they lead to an increase in the liability of the government.
Both If it satisfies any one of the two conditions: The receipts must create a liability for the government. The receipts must cause a decrease in the assets, and Borrowings are capital receipts as they lead to an increase in the liability of the government.
None of these
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Solution
Both If it satisfies any one of the two conditions: The receipts must create a liability for the government. The receipts must cause a decrease in the assets, and Borrowings are capital receipts as they lead to an increase in the liability of the government.
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