Write short note on Revenue receipts.
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receipts that are obtained in the course of normal business activities are known as revenue receipts. cash from sale of good, received commissio, received atc... are regarded as revenue receipts. they are shown in the profit and loss account.
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When there is business transaction or business operation, money plays the most important role because business occurs through the transfer of money and the revenue receipts are the money which is received by the business for operation.
Thus, the revenue receipts are the source from which it can be known if there is a profit or loss in the business.
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