Question

Which receipt refers to this estimated receipt of government during fiscal year which do not effect asset or liability status of government?

Answer 1

Answer:

Interest is a revenue receipt because it creates neither any liability nor causes a reduction in the assets of the government.

Explanation:

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Answer 2

Answer:

Budget receipts refer to the estimated money receipts of the government from all sources during a given fiscal year.

Interest is a revenue receipt because it creates neither any liability nor causes a reduction in the assets of the government.