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Question

In an annual financial statement, the government receipts are divided into revenue and capital receipts. Which of the following are revenue receipts?

  1. Fines and penalties levied for the infringement of laws.
  2. Cash withdrawals from banks over a threshold.
  3. Taxes
  4. Borrowing

Code:


  1. 2 and 3 only

  2. 2, 3 and 4 only

  3. 1 and 3 only

  4. 1, 2 and 3 only


Solution

The correct option is D

1, 2 and 3 only


(Source:NCERT) The borrowing come under capital receipts and hence option 4 is incorrect. All other options are correct.

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