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Question 30 Chapter 1 of +2-B
30. Which head following revenue items of a financial company will be classified or shown:
(i) Profit on Sale of Building; (ii) Revenue from Project Consultancy Rendered; (iii) Sale of Scrape; (iv) Interest Earned on Loans; and (v) Gain (profit) on Sale of Investments?
|
Items |
Head |
|---|---|
| Profit on Sale of Building | Other Income |
| Revenue from Project Consultancy Rendered | Other Income |
| Sales of scrap | Other Income |
| Interest earned or Loans | Revenue from Operations |
| Profit on Sale of Investment | Revenue from Operations |
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Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
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