Practice Test | Kullabs.com
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  • ______ are the amount received from the owner as capital, loan from outsiders and proceeds from the sale fixed assets . 

    Capital gain
    Capital receipts
    Revenue gain
    Revenue receipts
  • Capital receipts are ______ in nature.

    flaring up
    non-recurring
    recurring
    recrudescing
  • ______ are the receipt or incomes that arise from day to day business activities.

    Capital receipts
    Capital gain
    Revenue loss
    Revenue receipts
  • The example of revenue receipt is:

    Increase in value of assets through evaluation
    Loss-compensated 
    Capital received from owner
    Rent from tenants
  • The example of capital receipt is:

    Discount on purchase
    Amount received from rendering services.
    Rent from tenants
    Capital received from owner
  • The example of capital gain is:

    Increase in value of assets through evaluation
    Amount received from rendering services
    Loss-compensated 
    Sales proceeds from fixed assets.
  • The example of revenue profit is:

    Discount on purchase
    Capital received from owner
    Amount received from rendering services.
    Rent from tenants
  • A reserve created out of revenue profit is called ______ . 

    capital reserve
    revenue reserve
    capital loss
    revenue gain
  • The loss, which arises during the normal ( day-to-day) course of business activities is known as ______. 

    capital receipt
    revenue receipt
    capital loss
    revenue loss
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