Which of the following is NOT an item of "revenue from operations" for a Non Financial company?
Answer & explanation
Correct answer: option 3
The correct answer is option 3- Income from interest.
Income from interest is included in other income of non financial company.
Revenue from operations: As per Schedule III of the Companies Act 2013, this includes:
(i) Sale of products
(ii) Sale of services
(iii) Other operating revenues.
In respect to a finance company, revenue from operation shall include revenue from interest, dividend and income from other financial services. It may be noted that each of the above heads shall be disclosed separately by way of notes to accounts to the extent applicable.