Solution and Explanation:

Equity represents the ownership interest in a company and includes components that reflect shareholders' funds. Let’s analyze each option:

1. A. Money received against share warrants → Yes, part of equity

   • Share warrants are instruments that allow holders to buy shares at a predetermined price in the future, and money received against them is recorded under equity.

2. B. Working capital → No, not a component of equity

   • Working capital is the difference between current assets and current liabilities, which is more of a liquidity measure rather than a component of equity.

3. C. Share capital → Yes, part of equity

   • Share capital is the core funding raised by issuing shares to shareholders and is a primary component of equity.

4. D. Reserves & surplus → Yes, part of equity

   • Retained earnings, reserves, and surplus (such as general reserve, securities premium, etc.) are accumulated profits and other reserves belonging to shareholders, making them a part of equity.

5. E. Cash revenue from operations → No, not a component of equity

   • Revenue from operations is part of the company’s income statement and does not directly contribute to equity.

Correct Answer:

• The correct components of equity are A, C, and D.
• Thus, the correct option is:
  (D) A, C & D only.