AIBE III 2012 Question 79

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Question 79 of 100 AIBE III 2012 Set Common

A is a brokerage firm that helps businesses buy and sell real estate. They receive Rs. 25,00,000/- as commissions from their clients. They also receive Rs. 75,00,000/- from sale of their office. Which of the following Statements is the most accurate application of the principle below?

A The monies from the commission are capital receipts and the money from the sale of A's office is a revenue receipt.
B The monies from the commissions are revenue receipts and the money from the sale of A's office is a capital receipt. Official answer
C The monies from the commissions as well as the money from the sale of A's office are revenue receipts.
D The monies from the commissions as well as the money from the sale of A's office are capital receipts.
E The monies from the commissions are revenue receipts, but the money from the sale of A's office is neither a capital receipt nor a revenue receipt.