Which of the following items will be presented in the 'revenue from operations' head while preparing income statement of the financial company? A) Interest on loans given B) Dividend income C) Sale of miscellaneous items D) Refund of income tax E) Revenue from services rendered
Options:
CD
ABE
ACE
CDE
Correct Answer:
ABE
Explanation:
The items included in the Revenue from operations are: (i) Sale of products (ii) Sale of services (iii) Other operating revenues But for a finance company, revenue from operations shall include revenue from interest, dividend and income from other financial services.