Amount received on sale of assets is a ______ receipt. - Commercial Studies

Amount received on sale of assets is a ______ receipt.

Fill in the Blanks

Amount received on sale of assets is a capital receipt.

shaalaa.com

Distinction Between Capital and Revenue Receipts

Is there an error in this question or solution?

Chapter 6: Capital and Revenue Expenditure/Income - EXERCISES [Page 82]

Chapter 6 Capital and Revenue Expenditure/Income
EXERCISES | Q 1. (vi) | Page 82

Distinguish between capital receipt and revenue receipt.

Fees and commission received for services rendered, interest and dividend received an investment are examples of ______.

Capital receipts are usually obtained in case of a company:

A receipt is a capital receipt:

______ involves creation of liability and is shown on the liabilities side of the balance sheet.

What are revenue receipts?

Amount received on sale of stock-in-trade is a ______ receipt.

Amount obtained from a customer previously written off as bad debt is a ______ receipt.

A receipt in substitution of an income is revenue receipt.

Any lump sum receipt is always a capital receipt.