Economics · Public Finance
Read the following two statements and choose the correct option: Assertion (A): The government's revenue receipts do not create any liability or reduction in assets. Reason (R): These earnings are non-repayable and primarily arise from tax and non-tax sources.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A is false, but R is true
- 2A is true, but R is false
- 3Both A and R are true, but R is not the correct explanation of A
- 4Both A and R are true, and R is the correct explanation of A✓
Correct answer
Both A and R are true, and R is the correct explanation of A
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