alleryStart learning →Total income in the statement of profit and loss equals
AOperating revenue less excise
BTotal expenses plus profit
CRevenue less all expenses
DSales revenue plus other income
Answer & Solution
Correct answer: D. Sales revenue plus other income
Item III, Total Income, is the sum of item I, revenue from operations, and item II, other income.
Keep practising Schedule III Division I Financial Statements
Browse all Schedule III Division I Financial Statements questions for CA Inter, or explore more Accounting topics.
Related questions
Subsidiaries not consolidated must be listed along withTransactions unrecorded in books but surrendered as income in tax assessments are shown asExport earnings in foreign exchange are disclosed on which basis?Imports must be disclosed on which valuation basis?A trading company discloses, under broad heads, itsA manufacturing company reports raw materials underDisclosure of CSR expenditure applies to companies covered underA separate item threshold is 1% of revenue or Rs 1,00,000, whichever is higher. For Rs 5 c