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प्रश्न
Revenue earned from the Sale of ‘Stock-in-Trade’ is shown in the Statement of Profit & Loss as ______.
पर्याय
Revenue from Operations
Other Income
MCQ
रिकाम्या जागा भरा
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उत्तर
Revenue earned from the Sale of ‘Stock-in-Trade’ is shown in the Statement of Profit & Loss as revenue from operations.
Explanation:
‘Stock-in-Trade’ refers to the goods that a trading company buys specifically for the purpose of reselling them to earn a profit. Since buying and selling these goods is the main, everyday business activity (operating activity) of the company, any revenue earned from their sale is strictly classified under Revenue from Operations on the face of the Statement of Profit and Loss.
shaalaa.com
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