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While preparing profit and loss account statement as per schedule III of the Companies Act 2013, wherein we have disclose exceptional and extraordinary items in same P&L account.

1) extraordinary items : -are unusual and non re occuring items for example, any loss to company due to flood, natural desaster , loss due to labour strike etc , those items are not part of operation.

2) Exceptional items:- are Sale of machine which is not in use , Sale of long term investment , litigation settlement etc are part of operation but non reoccurring.