Multiple Choice
Which term describes items of income and expense (including reclassification adjustments) that are not recognised in profit or loss as required or permitted by other Australian Accounting Standards?
A) Operating income
B) Other comprehensive income
C) Net income
D) Equity
Correct Answer:
Verified
Correct Answer:
Verified
Q9: AASB 101 allows preparers two options in
Q10: Explain and discuss how profit results may
Q11: When items are required to be classified
Q12: The approach where profit is measured as
Q13: The Australian Accounting Standards Board changed the
Q15: The standard that requires the disclosure of
Q16: Which of the following is considered a
Q17: The concept of profit that is generally
Q18: The amount retained for asset replacement and
Q19: Benefits attributed to the comprehensive income approach