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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 โ€” 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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