Arrange following items of Statement of Profit & Loss in a sequence of its appearing as per schedule III of Companies Act, 2013 :
A. Expenses
B. Tax Expenses (Paid)
C. Revenue from operations
D. Profit before tax
E. Profit after Tax
Choose the correct answer from the options given below :
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → C, A, D, B, E
The Statement of Profit and Loss under Schedule III starts with revenue, deducts expenses to reach profit before tax, then deducts tax to reach the profit for the period.
(C) Revenue from operations — item I, the first line.
(A) Expenses — item IV, deducted from total revenue.
(D) Profit before tax — total revenue minus expenses (and exceptional and extraordinary items).
(B) Tax Expenses (Paid) — item X, deducted from profit before tax.
(E) Profit after Tax — the profit for the period, left after tax.
NCERT (2026-27 edition):
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