IAS 1/AASB 101 Defines a Complete Set of Financial Statements

question 41

Multiple Choice

IAS 1/AASB 101 defines a complete set of financial statements as comprising:

• A) a balance sheet, a profit or loss report, a statement of cash flows and a director's report.
• B) a statement of financial position, a statement of profit or loss and other comprehensive income for the period, a statement of changes in equity, a statement of cash flows , and notes comprising a summary of accounting policies and other explanatory information.
• C) a statement of financial position, a statement of profit or loss and other comprehensive income for the period, a statement of changes in equity and a statement of cash flows.
• D) a statement of financial position, a statement of profit or loss and other comprehensive income for the period, and a statement of cash flows.

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Definitions:

City-Manager

A city manager is an official appointed as the administrative manager of a city, in a council-manager form of city government.

Civic Reformers

Individuals or groups dedicated to improving urban governance and public policy through measures aimed at increasing transparency, accountability, and efficiency in governmental operations.

Sanitation

The management of waste and provision of clean drinking water to prevent disease and maintain a healthy living environment.

Housing

Structures and accommodations where people live, such as houses, apartments, and other residential buildings, considered in terms of quality, affordability, and availability.