Income and Expenditure Account records ___

Capital items

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Revenue items

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Both revenue and capital items

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None of these

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Solution

The correct option is B
Revenue items

Income and expenditure account records all the revenue items

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Similar questions

List-I	List-II
I. Premium paid for a lease hold property	(a) Revenue expenditure
II. Insurance premium paid for risks against accidental losses of properties(fixed assets)	(b) Capital receipt
III. Amount realised from the sale of securities(investment)\ purchased earlier	(c) Deferred revenue expenditure
IV. Huge sales promotion expenses	(d) Capital expenditure

Calculate Revenue Deficit, Fiscal Deficit and Primary Deficit from the following data:

Items (Rs in crore)

(i) Revenue expenditure 22,250

(ii) Capital expenditure 28,000

(iii) Revenue receipts 17,750

(iv) Capital receipts (net of borrowing) 20,000

(v) Interest payments 5,000

(vi) Borrowings 12,500

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