Which of the following is not included in the income statement?
A)Finance costs
B)Share of profit and loss from equity method
C)Extraordinary operations
D)Tax expense

Question

Quizplus · Accepted Answer

Extraordinary operations are not included in the income statement because they represent unusual and infrequent events, such as natural disasters or expropriations, and are not considered part of the regular business operations. Accounting standards typically require these items to be reported separately from the normal operations to ensure the income statement reflects the ongoing business performance.

Which of the Following Is Not Included in the Income