alleryStart learning →AS 5 aims to make the profit statement prepared on
AEach firm's own basis
BA uniform basis for all
CA cash-only basis
DA tax-only basis
Answer & Solution
Correct answer: B. A uniform basis for all
A uniform basis enhances comparability over time and across enterprises.
Keep practising AS 5 Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies
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