Under International Financial Reporting Standards,which line item or caption below is NOT used?
A)other losses and expenses
B)other gains and revenues
C)loss due to discontinued operations
D)extraordinary loss

Question

Quizplus · Accepted Answer

Extraordinary loss is not used in International Financial Reporting Standards as it has been eliminated as a separate classification. Instead, any unusual or infrequent items are included within the appropriate line item based on their nature.

Under International Financial Reporting Standards,which Line Item or Caption Below