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Categories >> Accounting >> Accounting AllOther
 
 


 

 
 Audit interview questions  Audit Interview Questions (427)
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 Accounting General interview questions  Accounting General Interview Questions (2809)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4359)
Question
what is the difference between direct income and indirect
income. pleases explain with example.
 Question Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
Incomes are classified inti Two Types:-
i. Direct Income
ii. indirect income


i.Direct income is one whih is earned directly by way of
bussiness Activites.

ii. Indirect incomes is one which is earned by way of Non-
Bussienss activeties i.e Sale of Old News papeers, Sale of
cartan boxes etc...
 
Is This Answer Correct ?    175 Yes 30 No
Sridharan.v
 
Answer
# 2
direct income basing of company nature of business eg. for
construction company - sale of flats, sale of plots,
contract income received, 2. for trading companies - sale
of the materials

if the company received any other income i.e not relating
to the nature of its business i.e indirect income.

i.e dividend on chits (not for chit fund companies),
interest received on f.d's, sale of scrap, any misc. income
 
Is This Answer Correct ?    63 Yes 15 No
K. Srinivasa Rao
 
 
 
Answer
# 3
THERE ARE TWO TYPE OF INCOME.......
1-DIRECT INCOME
2-INDIRECT INCOME


1-DIRECT INCOME-DIRECT INCOME IS ONE WHICH IS EARNED BY
PROFESSIONAL WORKS. EX.. SALE OF THE GOODS.

2-INDIRECT INCOME-INDIRECT INCOME IS ONE WHICH IS EARNED BY
THE EXTRA WORKS. EX... RECEIVING INTEREST,RECEIVING
DISCOUNT, PROFIT ON THE SALE OF OLD ASSETS.
 
Is This Answer Correct ?    64 Yes 19 No
Rahul Kumar Soni
 
Answer
# 4
direct income basing of company nature of business and such
incomes may be releted next year eg. for
construction company - sale of flats, sale of plots,
contract income received, 2. for trading companies - sale
of the materials

if the company received any other income i.e not relating
to the nature of its business i.e indirect income.

i.e dividend on chits (not for chit fund companies),
interest received on f.d's, sale of scrap, any misc. income
and unearned commission and unscured profit & reserve for
baddebts.
 
Is This Answer Correct ?    30 Yes 10 No
Gajendra Yadav
 
Answer
# 5
Incomes are classified inti Two methods:-
1). Direct Income
2). indirect income


1).Direct income is one whih is earned directly by way of
bussiness Activites.

2). Indirect incomes is one which is earned by way of Non-
Bussienss activeties i.e Sale of Old News papeers, Sale of
cartan boxes etc.
 
Is This Answer Correct ?    25 Yes 8 No
Nagarajan
 
Answer
# 6
DIRECT is the income which is directly earned eg - profit
is also regarded as income because it is derived after
deducting all the expenses eg - income tax is leived

indirect income is the income which is indirectly earned
may be received in the form of lotteries,
 
Is This Answer Correct ?    101 Yes 87 No
Ravindra
 
Answer
# 7
Direct Income:- The Income gained or earned directly in any
economic activity either in business or in job e.g. salary
of a slaried person or profit earned on yhe sale of a
product.

Indirect Icome:- The extra income earned, may or may not
belong to any business activity e.g interest recieved on a
fixed deposit of capital, recieving discount etc.
 
Is This Answer Correct ?    22 Yes 10 No
Ajay Dash
 
Answer
# 8
Direct Income:- The Income gained or earned directly in any
economic activity either in business or any job
or
The incom gained or earned directly which is the business
activities and realted to economy
e.g. salary
of a slaried person or profit earned on yhe sale of a
product and sale of plots and flates.

Indirect Icome:- The incom earned by other sources which is
our direct incom.
The extra income earned, may or may not
belong to any business activity
e.g interest recieved on a
fixed deposit of capital, recieving discount,profit earned
by the sale of outside assets which is not related to the
business activities
 
Is This Answer Correct ?    14 Yes 7 No
Amit Chandra
 
Answer
# 9
The classification of direct incomes & indirect incomes is
based on the nature of the business. If the incomes are
directly connected with the business, then it is termed as
direct incomes. For example all fees collections are direct
income for an Educational Institution. Similarly if the
incomes are not directly connected with the business, then
it is termed as indirect incomes. For examples interest
from deposits etc...
 
Is This Answer Correct ?    13 Yes 6 No
Padma
 
Answer
# 10
if the income is related to the nature of the business then
it will be treated as irect income if the income is not
related to the nature of the business they are doing or
registered then it would be treated as indirect income.
 
Is This Answer Correct ?    6 Yes 0 No
Ravindra
 

 
 
 
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