In Accordance with AASB 101 'Presentation of Financial Statements a Financial

question 6

Multiple Choice

In accordance with AASB 101 'Presentation of Financial Statements a financial report comprises of........?

• A) a balance sheet, an income statement and cash flow statement.
• B) a balance sheet, an income statement, a statement of changes in equity and a cash flow statement.
• C) a balance sheet, an income statement, a statement of changes in equity, a cash flow statement and notes to the accounts.
• D) a balance sheet, an income statement, a cash flow statement and notes to the accounts.
• E) a balance sheet, an income statement, a statement of changes in equity and notes to the accounts.

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Definitions:

Moral Hazard

The risk that one party to a contract can change their behavior to the detriment of another after the contract has been concluded.

Health Care Insurance

Insurance that finances the medical and surgical expenses for the individual covered under the policy.

Associated

Often used to describe things or entities that are connected or linked with each other in some way.

Health Care Market

The aggregate of providers, consumers, and organizations related to the production, distribution, and consumption of health and medical care services.