O-LevelAccountingAccounting principles and policies7707/11 · May/June 2015 · Q121 Mark
Ezra received the following cheques. $210 from the sale of goods $1000 from the sale of old motor vehicle (at book value) $150 for rent of premises How did Ezra classify these receipts? sale of goods motor vehicle rent received A capital receipt capital receipt revenue receipt B capital receipt revenue receipt capital receipt C revenue receipt capital receipt revenue receipt D revenue receipt revenue receipt capital receipt
Acapital receipt capital receipt revenue receipt
Bcapital receipt revenue receipt capital receipt
Crevenue receipt capital receipt revenue receipt
Drevenue receipt revenue receipt capital receipt
✓ Correct answer
C: revenue receipt capital receipt revenue receipt
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