alleryStart learning →An event may be extraordinary for one enterprise and not another since
ATheir tax rates differ
BTheir auditors differ
CTheir business differs
DTheir year ends differ
Answer & Solution
Correct answer: C. Their business differs
Extraordinary status depends on how distinct the event is from each firm's own 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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