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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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