Which one of the following could not be classified as Revenue Income ? ( JRA,capital iq hyderabad, india)?

Question

1) Goods sold for cash

2) Goods sold on Credit

3) Income from the sale of services

4) Income from the sale of Fixed assets

Answer 1

Income from sale of fixed assets cannot be classified as revenue income. The revenue income refers to income from the main activity of the entity say sales of goods or services. But sale of fixed assets is not the main activity of the entity, hence it cannot be classified as revenue income

Answer 2

Item 4 i.e. Income from sale of Fixed Assets cannot be considered as revenue income.  All the other three are indeed revenue income.