Capital And Revenue - Class 10 Elements Of Book Keeping And Accountancy - Extra Questions

What are the expenses ? 

The amount of expenses is Rs.5,000 , which he paid for salaries.


What do you mean by 'non-recurring expenses'?

Non-recurring expenses are those expenses which are not likely to occur frequently in the near future. They are usually one time expenditure. They are usually the research and development cost, loss on sale of Assets, law suit payments etc.


Answer the following question in only 'one' sentence :
Which receipts are called as capital receipts?

Capital receipts are the receipts of non-recurring nature which either creates the liability of the company or reduces the company's assets.



Government grant is treated as _______ receipt.

Government receipts which neither (i) create liabilities nor (ii) reduce assets are called revenue receipts. These are proceeds of taxes, interest and dividend on government investment, cess and other receipts for services rendered by the government. These are current income receipts of the government from all sources


Class 10 Elements Of Book Keeping And Accountancy Extra Questions