alleryStart learning →AS 5 prescribes classification and disclosure of items in which statement?
ACash flow statement
BStatement of assets
CStatement of stock held
DProfit and loss statement
Answer & Solution
Correct answer: D. Profit and loss statement
Its objective is the uniform classification and disclosure of certain items in the statement of profit and loss.
Keep practising AS 5 Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies
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