state gov Kerala (കേരളം) PSC Divisional Accountant Test Series 2025 Accountancy Capital & Revenue Account
which of the following statements is FALSE for revenue receipts?
1
Revenue receipts are not directly credited to profit and loss account.
2
Revenue receipts should not be equated with the actual cash receipt.
3
Revenue receipts are recognised on accrual basis as soon as the right of receipt is established.
4
Receipts which are obtained in the course of normal business activities are revenue receipts.