What is receipts and their types ???
Dear student
Receipt:- A receipt is a written document with the acknowledgement that something of value has been transferred from one party to another. In simple words it is the amount of business organisation receives during the course of audit.
Receipts can be of two types: Revenue receipt and capital receipt.
Revenue Receipt :- It is obtained during normal business activities.For example: Rent received.
Capital Receipt:- It is not obtained during normal business activities. For example:- Receipt from selling fixed assets.
I hope it helps you. If you still have any doubt please get back to us.
Regards
Receipt:- A receipt is a written document with the acknowledgement that something of value has been transferred from one party to another. In simple words it is the amount of business organisation receives during the course of audit.
Receipts can be of two types: Revenue receipt and capital receipt.
Revenue Receipt :- It is obtained during normal business activities.For example: Rent received.
Capital Receipt:- It is not obtained during normal business activities. For example:- Receipt from selling fixed assets.
I hope it helps you. If you still have any doubt please get back to us.
Regards