While preparing the statement of profit and loss, ABC

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

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

B No, it should be shown as revenue from operations

C Yes, if the amount is less than ₹1 lakh

D No, because it should not be disclosed at all

Practice Next

More Presentation of Company Financial Statements Questions

Solution