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  • Sale proceeds of grass in case of a sports club is
Multiple choice

Sale proceeds of grass in case of a sports club is

  1. a capital receipt

  2. an asset

  3. a revenue receipt

  4. none of the above

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

For a sports club, the sale of grass is a recurring, everyday transaction. Because it is a regular source of income and does not involve the sale of a fixed asset, it is classified as a revenue receipt.

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