Consider the following statements.
- Capital receipts are the amount received in the form of taking loans and selling of any fixed asset.
- Capital receipts either decrease the liability or increase the asset.
Which of the statement(s) given above is/are correct?
- AOption (a)
Only 1
- BOption (b)
Only 2
- COption (c)
Both 1 and 2
- DOption (d)
None of these
View answer & explanationHide answer & explanation
Correct answer
Only 1