Borrowings and recovery of loans
Categorize the borrowings and recovery of loans into capital and revenue receipts of government budget. Give reason too.
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Answer: Borrowings are capital receipts since the government is beneath obligation to return the amount all along with interest therefore it creates liability for government. Recovery of loans is as well capital receipts since such decrease assets of the government.
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A prosperous person who made higher and higher incomes yearly would possibly benefit most from: (w) proportional tax system. (x) progressive tax system, much like the one in place today. (y) regressive tax system. (z) fixed percentage tax system. Discover Q & A Leading Solution Library Avail More Than 1426044 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1928623 Asked 3,689 Active Tutors 1426044 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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