ЁЯУв Too many exams? DonтАЩt know which one suits you best? Book Your Free Expert ЁЯСЙ call Now!

    Question

    While preparing the statement of profit and loss, ABC

    Ltd. classifies its revenue from sale of products under тАЬOther Income.тАЭ 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 тВ╣1 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 тАЬRevenue from OperationsтАЭ separately as per Ind AS presentation norms.

    Practice Next
    More Presentation of Company Financial Statements Questions
    ask-question