1531. Receipts does not increases or decreases the value of asset or liability are :

A. Long term receipts
B. Capital receipts
C. Revenue receipts *
D. Revenue profit

1532. Receipts decreases the value of asset or increases the value of liability are :

A. Revenue receipts
B. Capital receipts *
C. Short term receipts
D. Capital profit

1533. Money received from the sale of goods is :

A. Capital receipt
B. Long term receipt
C. Revenue receipt
D. Revenue receipt *

1534. Money obtained by the issue of debentures is :

A. Capital receipt
B. Revenue receipt
C. Capital profit
D. Revenue profit

1535. Amount received against a trade debt previously written off bad is a :

A. Capital receipt
B. Revenue receipt *
C. Capital loss
D. Capital profit

1536. Sale proceeds of stock in trade are :

A. Capital receipts
B. Revenue receipts *
C. Capital loss
D. Capital profit

1537. Amount contributed by the proprietor as his capital is regarded as :

A. Capital receipt *
B. Revenue receipt
C. Capital loss
D. Revenue profit

1538. The profit which is earned on the sale of a fixed asset is regarded as :

A. Capital profit *
B. Revenue profit
C. Capital loss
D. Capital receipt

1539. The profit which is earned during the ordinary course of business is regarded as :

A. Capital profit
B. Revenue profit *
C. Revenue loss
D. Long term profit

1540. The capital profit should be transferred to :

A. Profit and loss account *
B. Trading account
C. Balance sheet
D. The balance sheet as well as the trading and profit and loss accounts