AASB 101/IAS 1 Presentation of Financial Statements, Requires Which of the Following

question 11

Multiple Choice

AASB 101/IAS 1 Presentation of Financial Statements, requires which of the following items to be disclosed separately on the face of the statement of profit or loss and other comprehensive income? I Cost of sales
II Revenue
III Finance costs
IV Share of the profit or loss from associates
V Audit and non-audit fees
VI Total other comprehensive income
VII Profit or loss

• A) I, II, VI and VII only
• B) I, II, III and V only
• C) II, III, IV, VI and VII only
• D) I, III, V and VII only

Define fee simple absolute ownership and recognize its significance.

Identify examples of real property versus personal property.

Comprehend the legal distinctions between movable and immovable property.

Understand different forms of property ownership and the rights associated with each.

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Definitions:

Department of Justice

A federal executive department of the U.S. government responsible for the enforcement of the law and administration of justice, essentially serving as the government's law firm.

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New Deal

A series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in the United States between 1933 and 1939 to help recover from the Great Depression.