Question

Why is interest on loans received categorised as revenue receipt?​

Answer 1

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Explanation:Simply put, an expenditure which neither creates assets nor reduces liability is called Revenue Expenditure, i.e., Salaries of employees, interest payment on post debt, subsidies, pension, etc. These are financed out of revenue receipts.

Answer 2

Answer:

Simply put, an expenditure which neither creates assets nor reduces liability is called Revenue Expenditure, i.e., Salaries of employees, interest payment on post debt, subsidies, pension, etc. These are financed out of revenue receipts.

Explanation:

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