Which of the Following Statements Is Correct in Terms of Revenue-Related

question 24

Multiple Choice

Which of the following statements is correct in terms of revenue-related disclosures on the face of the statement of profit or loss and other comprehensive income?

• A) AASB 101/IAS 1 Presentation of Financial Statements requires total revenue to be disclosed on the face of the statement of profit or loss and other comprehensive income.
• B) AASB 15/IFRS 15 Revenue from Contracts with Customers requires total revenue to be disclosed on the face of the statement of profit or loss and other comprehensive income.
• C) AASB 101/IAS 1 Presentation of Financial Statements requires revenue by category to be disclosed on the face of the statement of profit or loss and other comprehensive income.
• D) AASB 15/IFRS 15 Revenue from Contracts with Customers requires revenue by category to be disclosed on the face of the statement of profit or loss and other comprehensive income.

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Definitions:

Size Constancy

The perceptual understanding that an object's size remains the same despite changes in the distance from which it is observed.

Perceptual Constancy

The brain's ability to recognize that an object's characteristics remain the same despite changes in the sensory input, such as distance or lighting.

Retinal Image

The image of an object that is projected on the retina. Its size increases with the size of that object and decreases with the object’s distance from the eye.

Size Constancy

The perceptual phenomenon where the size of an object is perceived to remain constant despite variations in the distance or size of the image it projects on the retina.