Select the correct answer using the code given below
A. 1 and 2 only
B. 1,2 and 3 only
C. 3 and 4 only
D. 1,3 and 4 only
Answer:A
Select the correct answer using the code given below
A. 1 and 2 only B. 1,2 and 3 only C. 3 and 4 only D. 1,3 and 4 only
Explanation: Government receipts which neither create liabilities nor reduce assets are called revenue receipts. Revenue receipts are arranged into two categories namely Tax revenue and Non-tax revenue