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    Question

    Under which method are extraordinary items presented

    separately in the statement of profit and loss?
    A Vertical format only Correct Answer Incorrect Answer
    B By nature or by function presentation — extraordinary items are prohibited under Ind AS Correct Answer Incorrect Answer
    C Extraordinary items always shown above tax Correct Answer Incorrect Answer
    D Extraordinary items shown as financing activity Correct Answer Incorrect Answer
    E Extraordinary items shown in notes only Correct Answer Incorrect Answer

    Solution

    Ind AS does not permit presentation of extraordinary items; such items must be disclosed in notes.

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