Any transaction which either increases liability or decreases assets is a ____________.

Revenue Receipt

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Capital Receipt

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Either Revenue or Capital Receipt

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None of these

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Solution

The correct option is B
Capital Receipt

All transactions which either increase liability or decrease assets is a capital receipt

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Similar questions

Which among the following statement(s) is/ are correct?

Codes :

Receipts and Payments A/c is a summary of ___

Receipts and Payments A/c is a summary of -

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