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Dear Tutor,
Please help me distinguish “capital income” and “capital receipts”; “revenue income” and “revenue receipts”.
I saw these words in chapter 17 – Revision kits f3, and did not know how to cope with situation.Thanks in advance.
Revenue receipts and revenue expenditure refer to the sales of the business and the expenses incurred in making those sales – they appear in the Statement of profit and loss.
Capital receipts and capital expenditure and the receipts and payments for the sale and purchase of non-current assets.
I do suggest that you watch our free lectures where this is explained.
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