Amount received from sale of grass by a club should be treated as ........

Amount received from sale of grass by a club should be treated as :

Capital Receipt

Revenue Receipt

Asset

Earned Income

- Capital Receipt: This refers to income that results from non-recurring events. Examples include loans or sale of fixed assets.

- Revenue Receipt: This covers regular income earned during operations. It includes sales of goods or services that a club might offer routinely.

- Correct Answer: Revenue Receipt

- Asset: An asset is something of value that the club owns, such as property or equipment.

- Earned Income: This typically refers to income received from work or business activities, usually related to labor or investment.

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