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What’s a revenue receipt?
Revenue receipts can be defined as those receipts which neither create any liability nor cause any reduction in the assets of the government. They are regular and recurring in nature and the government receives them in the normal course of activities.
What is revenue receipts with example?
ExamplesSale of fixed assets, capital contribution andProfit on sale of assets, sale of goods. interest loans taken, etc., are some example of capital receipts. received on loans (advanced), royalty, etc., are some examples of revenue receipts.
What is capital receipt UPSC?
All the receipts of the government that establish liability or minimise financial assets are known as capital receipts. When the government takes loans, it means that these loans will have to be given back and interest will have to be financed on these loans in the future.
What are revenue receipts in a government budget?
(iv) Revenue Budget consists of the revenue receipts of Government (tax revenues and other revenues) and the expenditure met from these revenues. Tax revenues comprise proceeds of taxes and other duties levied by the Union .
What are the 3 types of revenue?
Rent revenue. Dividend revenue. Interest revenue. Contra revenue (sales return and sales discount)
What is revenue explain?
Revenue is the money generated from normal business operations, calculated as the average sales price times the number of units sold. It is the top line (or gross income) figure from which costs are subtracted to determine net income. Revenue is also known as sales on the income statement.
What is capital and revenue receipts?
Meaning. Capital Receipts are the income generated from non-operating Activities of the business. Revenue Receipts are the income generated from the operating activities of the business. Nature. Non-Recurring.
What is difference between capital receipt and revenue receipt?
Capital Receipts are receipts that don’t affect the profit or loss of business. Revenue Receipts are receipts that affect the profit or loss of business. Capital Receipts stem from non-operational sources. Revenue Receipts stem from operational sources.
What is revenue receipt class 12?
Revenue Receipts are those receipts of the government which neither creates any liability nor it creates any reduction in the assets of the government. These comprises of tax and non-tax receipts, duties and fines, interest and dividends receipts on government investments and assets.
What are the types of revenue receipts?
Any kind of rent received. Interest earned. Money received from goods and services provided to the clients. Discount received from the vendors, suppliers, or the creditors. Any bad-debts recovered. Divided received. Revenue earned by any waste or scrap material, etc.