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    Question

    While preparing the statement of profit and loss, ABC

    Ltd. classifies its revenue from sale of products under ā€œOther Income.ā€ 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 ā‚¹1 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 ā€œRevenue from Operationsā€ separately as per Ind AS presentation norms.

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