Question

In the notes to the financial statements, how should revenue from operations be disclosed for a company other than a finance company?

a.

Only as a total amount without any further classification.

b.

Separately as sale of products, sale of services, and other operating revenues; less excise duty.

c.

Only as sale of products and other operating revenues.

d.

Separately as sale of services and other operating revenues.

Answer: (b).Separately as sale of products, sale of services, and other operating revenues; less excise duty. Explanation:For a company other than a finance company, revenue from operations should be disclosed separately in the notes as sale of products, sale of services, and other operating revenues; less excise duty.

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Q. In the notes to the financial statements, how should revenue from operations be disclosed for a company other than a finance company?

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