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Need for Analysis of Financial Information

Under which h...

Question

Under which head the following items of a financial company will be shown :

(i) Dividend received (ii) Interest earned (iii) Profit on sale of fixed asset and (iv) Profit on sale of investments, and (v) Refund of Income Tax.

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Solution

Revenue from Operations : Dividend received, Interest earned and Profit on sale of investments.

Other Income : Profit on sale of fixed asset and Refund of Income Tax.

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