Write a word / term / phrase which can substitute the statement: The receipts which are not recurring in nature.
Q.1 (B) (ii) Write a word / term / phrase which can substitute the statement: The receipts which are not recurring in nature.
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Answer: Capital receipts (non-recurring receipts)
Receipts such as life membership fees, legacies, specific donations and sale of fixed assets do not occur regularly. They are capital receipts and are shown on the liabilities side or adjusted in the Balance Sheet, not in the Income and Expenditure Account.
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· 28 Oct 2026
AI-verified · Oct 2026
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