Accounting Process-Books of Accounts - Capital and Revenue Receipts (CA Foundation Principles of Accounting): Questions 7 - 8 of 8

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Question number: 7

» Accounting Process » Books of Accounts - Capital and Revenue Receipts

Essay Question▾

Describe in Detail

Explain the terms capital and revenue profits briefly?

Explanation

  • When an enterprise prepares its financial statements, a clear distinction is made between the capital and revenue profits earned by the firm.

  • Revenue profit: The profit that arises in the normal course of business activities such as sale of goods.

Meaning of revenue profits

Meaning of Revenue Profits

Meaning and examples of revenue profits

… (83 more words) …

Question number: 8

» Accounting Process » Books of Accounts - Capital and Revenue Receipts

Short Answer Question▾

Write in Short

What is the meaning of the term revenue receipt? Give example

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