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Insurance claim received on machinery destroyed by fire is a _?

a. Capital Receipt

b. Revenue Receipt

c. Capital Expenditure

d. Revenue Expenditure

Accounting Auditing Cost Accounting Economics Finance
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Question added by Shamseer KM , Accounts and Admin Payroll , KBM Group
Date Posted: 2016/06/29
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Deleted user
by Deleted user

BASICALLY MACHINERY IS AN FIXED ASSET CAPITAL NATURE

SO CLAIMS ALSO TREAT AS CAPITAL RECEIPT ONLY

Suvidya M
by Suvidya M , Assistant Finance Manager , Mobileum Technoloy Pvt Ltd

the receipt of claim in a capital in nuture

Mamoun elbaghir abdalla mhamad Eltayeb
by Mamoun elbaghir abdalla mhamad Eltayeb , Insurance agent / Producer , Albaraka Insurance Company

 

Insurance claim received is a Recovery 

Thanks

 

Muhammad Sabith
by Muhammad Sabith , Accountant , SIMORA

a. Capital Receipt .....................

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