Consider the following statements.
1. Revenue which is mobilised by the government without any contractual obligations to the payee is called unearned revenue of the government.
2. Kind of revenue which is received from certain assured sources kept under the complete disposal of government ownership is called earned revenue.
Which of the statement(s) given above is/are correct?
1
Only 1
2
Only 2
3
Both 1 and 2
4
None of these