alleryStart learning →Which description fits an extraordinary item in AS 5?
APart of routine operations
BDistinct from usual business
CCaused by an accounting error
DResulting from a policy change
Answer & Solution
Correct answer: B. Distinct from usual business
Extraordinary items come from events clearly distinct from the enterprise's ordinary activities.
Keep practising AS 5 Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies
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