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Question
Under which head following revenue items of a non-financial company will be classified or shown:
(i) Sales;
(ii) Revenue from Services Rendered;
(iii) Sale of Scrap;
(iv) Interest Earned on Loans; and
(v) Gain (profit) on Sale of Investments?
Solution
| ITEMS | HEAD |
| Sales | Revenue from Operations |
| Revenue from services rendered | Revenue from Operations |
| Sale of scrap | Revenue from Operations |
| Interest earned or Loans | Other Income |
| Profit on Sale of Investment | Other Income |
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