Why is tax not a capital receipt
Illustrate, why is tax not a capital receipt?
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Tax is not a capital receipt since it neither leads to the creation of liability nor to reduction in assets. However, a tax is the revenue receipt.
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Quantity of a good: The quantity of a good which buyers demand is found out by the price of the good, income, the prices of associated goods, expectations, tastes, and the number of buyers.
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