Answer to Question #190931 in Other for Kritika

Question

Love doddle is a gifting enterprise of ms dorayi. The enterprise generates inflows by arranging gift hampers for the customers loved ones.the inflows arises from the sale of gift hampers rs 505000 and from bank interest dividend receipt rs 4200. MMS dorati is confused on how to record these inflows.she would like to understand from you about the concept revenue from operation and other income so that she can record the information so as to prepared the profit and loss statement of the enterprise. Define share examples and elaborate on your understanding towards the term revenue from operation and other income.

Answer 1

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