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Receipts from taxes

Why are receipts from taxes classified as revenue receipts?

Answer: Receipts from taxes are classified as revenue receipts since they do not build liabilities nor reduction in the assets.

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  • Q : Receipts from taxes Why are receipts

    Why are receipts from taxes classified as revenue receipts? Answer: Receipts from taxes are classified as revenue receipts since they do not build liabilities nor r

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