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Government Budget: Receipts & Expenditure · Question 16 of 57

Question 16

MediumOriginal question

Read the two statements and choose the correct option.

I. Grants received from foreign governments are revenue receipts.

II. Loans received from foreign governments are revenue receipts.

Options for question 16

Show the answer and explanation
CorrectNot quiteAnswer A

Correct answer: A

Explanation

  1. A grant is not repaid and creates no liability. I is true.

  2. A loan must be repaid, so it is a capital receipt. II is false.

Concept
Grants and loans
Typical time
70 s
Your time
—
The rule this testsRevenue receipts: tax and non-tax
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Ten questions from Government Budget: Receipts & Expenditure, at your own pace.

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Ten questions from Government Budget: Receipts & Expenditure, at your own pace.

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