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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