Target Exam

CUET

Subject

-- Accountancy Part B

Chapter

Financial Statements of a Company

Question:

Interest on loans received by a financial company as per Schedule III of the Companies Act 2013 is:

Options:

Revenue from Operations

Other Income

Sundry Expenses

None of these

Correct Answer:

Revenue from Operations

Explanation:

The correct answer is option 1- Revenue from Operations.

As per Schedule III of the Companies Act 2013, in respect to a finance company, revenue from operation shall include revenue from interest, dividend and income from other financial services.