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    Question

    While preparing the statement of profit and loss, ABC

    Ltd. classifies its revenue from sale of products under “Other Income.” Is this in compliance with the presentation norms under Ind AS?
    A Yes, all incomes are shown together Correct Answer Incorrect Answer
    B No, it should be shown as revenue from operations Correct Answer Incorrect Answer
    C Yes, if the amount is less than â‚ą1 lakh Correct Answer Incorrect Answer
    D No, because it should not be disclosed at all Correct Answer Incorrect Answer

    Solution

    Revenue from sale of products must be shown under “Revenue from Operations” separately as per Ind AS presentation norms.

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