Question

All receipts are the items of revenue income. (State True or False)

Answer 1

YES.......

IS THE RIGHT STATEMENT.....

ALL RECEIPTS ARE THE ITEMS OF REVENUE INCOME...

Answer 2

The given statement- All receipts are the items of revenue income is false.

* All receipts are not the result of revenue earned.

* Revenue refers to the income generated from the activities related to the business.

* Receipts can be of various types such as bank statements, taxes, sale receipts and many more and hence all are not part of revenue.