What Is the Amount of Current Assets to Be Reported

question 134

Multiple Choice

What is the amount of current assets to be reported on the balance sheet at the end of 2014?

• A)$26,950.
• B)$34,500.
• C)$35,450.
• D)$51,618.

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Definitions:

IFRS

International Financial Reporting Standards, which are a set of accounting standards developed by the International Accounting Standards Board (IASB) that aim to bring consistency to accounting language, practices, and statements globally.

Used

Pertains to items or assets that have been utilized or consumed, often in contrast to those that are new or unused.

Country

A distinct territorial body or political entity recognized as an independent nation.

Stockholders

Individuals or entities that own shares in a corporation, granting them certain rights such as voting on corporate matters.