Which of the following items, if it exists, does NOT have to be presented as a line item on the face of a statement of profit or loss and other comprehensive income?
A) revenue;
B) closing inventory;
C) profit or loss attributable to non-controlling interests;
D) post-tax profit or loss of discontinued operations.

Question

Quizplus · Accepted Answer

Although closing inventory is an important item for accounting and reporting purposes, it does not need to be presented as a line item on the face of a statement of profit or loss and other comprehensive income. Instead, it is usually disclosed in the notes to the financial statements. All other items listed (revenue, profit or loss attributable to non-controlling interests, post-tax profit or loss of discontinued operations) would typically be presented as line items on the face of the statement.

Which of the Following Items, If It Exists, Does NOT