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Question
Which of the following is a revenue receipt of the government?
Options
Provident Funds
Market Loans
Recovery of Loans & Advances
Dividends and profits from LIC
MCQ
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Solution
Dividends and profits from public financial institutions such as LIC are non-tax revenue, hence revenue receipts — they neither create liabilities nor reduce assets. Recovery of loans, market loans and provident funds are capital receipts.
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