Question

All receipts from sale of consumable items are treated as___

Answer 1

Answer:

revenue receipt

Explanation: it related to normal course of business

Answer 2

Answer:

The correct answer is Revenue receipts.

Explanation:

Revenue receipts can be described as those receipts that neither create any harm nor induce any decline in the assets of the government. They are regular and systematic and the government accepts them in the regular course of actions.

Examples of Revenue Receipts

• Money exists accepted for services provided to customers.
• Rent received.
• Discounts obtained from suppliers, vendors, or creditors.

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