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.
Involuntary unemployment: Involuntary unemployment terms to a condition in which people that are willing to work are unable to obtain work.
Substitutes: The two goods for which a rise in the price of one good leads to a rise in the demand for another.
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Why is interest received classified as revenue receipt? Answer: Interest received is a revenue receipt since it does not build any liability nor it leads to the red
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