Accounting for IGCSE & O level - Accounting Procedures (Section 10 - No. 7)
Which of the following is NOT a characteristic of revenue receipts for a business?
Arise from the sale of goods or services to customers.
Represent income for the business.
Are usually recurring.
Increase the owner's equity.
Explanation
Revenue receipts directly impact the income of a business. They usually do not increase owner's equity; in fact, capital receipts do.
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