Extraordinary items of income and expense:
A) must be disclosed in the statement of profit or loss and other comprehensive income.
B) were previously disclosed together with the entity's normal trading activities.
C) must be disclosed in the notes to the financial statements.
D) are prohibited from being disclosed either in the statement of profit or loss and other comprehensive income or in the notes.

Question

Quizplus · Accepted Answer

Extraordinary items are prohibited from being disclosed separately in the financial statements according to IFRS, as they are no longer recognized as a separate category.

Extraordinary Items of Income and Expense