state gov Kerala (കേരളം) PSC Divisional Accountant Test Series 2025 Accountancy Capital & Revenue Account
Identify the incorrect statement while classifying the items as revenue and capital.
1
The compensation distributed by the Municipal Corporation in lieu of acquisition of agricultural land for road construction is a revenue receipt.
2
Sale of property is a capital receipt.
3
Misappropriation or embezzlement of cash by an employee is an example of loss of revenue.
4
Receipt in lieu of source of income is a capital receipt.