Why is tax not a capital receipt
Illustrate, why is tax not a capital receipt?
Expert
Tax is not a capital receipt since it neither leads to the creation of liability nor to reduction in assets. However, a tax is the revenue receipt.
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The market demand curve for latest houses would rise in response to a rise in: (1) construction technology. (2) The costs of lumber. (3) Housing prices. (4) Legal price ceilings on rental properties. (5) Expectations regarding future housing prices. Q : Define revenue receipts Define revenue Define revenue receipts. Write the groups in which they are categorized. Answer: Any receipts that do not either make a liability or lead to reduction in assets is
Define revenue receipts. Write the groups in which they are categorized. Answer: Any receipts that do not either make a liability or lead to reduction in assets is
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