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      Question

      Which of these is recorded as an extraordinary gain

      under current Ind AS practice?
      A Profit/loss from ordinary activities Correct Answer Incorrect Answer
      B Gains are not presented as extraordinary; they are shown in P&L or disclosed in notes Correct Answer Incorrect Answer
      C All unusual items must be shown as extraordinary gains Correct Answer Incorrect Answer
      D Only share issue profit is extraordinary Correct Answer Incorrect Answer
      E None of the above Correct Answer Incorrect Answer

      Solution

      Ind AS does not permit an ‘extraordinary items’ classification.

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