Question

Revenue receipt minus revenue expenditure is equal to

Answer 1

Revenue receipts minus revenue expenditure equal to net profit or loss.

Answer 2

$\sf\underline{\pink{A}\orange {N}\blue{S}\red{W}\green{E}\purple{R}}$

Revenue deficit can be calculated by subtracting total revenue expenditure from total revenue receipts. It is important to note that revenue receipts neither create liability nor lead to a reduction in assets.