INTERVIEW QUESTIONS ACCOUNTING PROCESS CAPITAL AND REVENUE EXPENDITURE AND RECEIPTS DETAILS

Question: Share Premium is a: a) Capital Receipt b) Revenue Receipt c) Deferred Revenue Receipt d) None of these

Answer: (a) Capital Receipt
Description: Share premium is a capital receipt as it is received occasionally when shares are issued and its usage is also restricted. It is shown on the liability side of the balance sheet. It is not in the nature of a regular income and hence its not a revenue receipt.

(a) Capital Receipt
Description: Share premium is a capital receipt as it is received occasionally when shares are issued and its usage is also restricted. It is shown on the liability side of the balance sheet. It is not in the nature of a regular income and hence its not a revenue receipt. Source: CoolInterview.com

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