Advertisements
Advertisements
Question
What do you understand by Turnover?
Answer in Brief
Advertisements
Solution
- Turnover refers to the sales made during the accounting or fiscal year. The sum of gross sales for the year.
- Turnover is sometimes referred to as Gross Sales or Gross Receipts.
shaalaa.com
Distinction Between Capital and Revenue Receipts
Is there an error in this question or solution?
APPEARS IN
RELATED QUESTIONS
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.
Non-recurring receipts like additional capital, loan, etc. are ______.
Define Capital receipts.
Give two examples of Capital receipts.
Give three examples of Revenue receipts.
Compensation received for the surrender of a right is a revenue receipt.
Any lump sum receipt is always a capital receipt.
Sale of securities by an investment company is a capital receipt.
