Under the current accounting standards,which of the following items is not included in the measurement of profit in the statement of profit or loss?
A) Loss on the disposal of non-current assets.
B) Gain on asset revaluation.
C) Cost of sales.
D) Dividends received.

Question

Quizplus · Accepted Answer

Gain on asset revaluation is typically recognized in other comprehensive income rather than the statement of profit or loss, according to most accounting standards such as IFRS and US GAAP.

Under the Current Accounting Standards,which of the Following Items Is