Amount received on sale of assets is a ______ receipt.

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Amount received on sale of assets is a capital receipt.

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Distinction Between Capital and Revenue Receipts

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

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

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

Rent received and commission received are examples of ______.

Define Capital receipts.

Give two examples of Capital 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 is a capital receipt because ______.

Premium paid on issue of shares is a capital receipt.

A receipt in substitution of an income is revenue receipt.

Any lump sum receipt is always a capital receipt.