The Approach Contained in IAS 1/AASB 101 to the Determination

question 64

Multiple Choice

The approach contained in IAS 1/AASB 101 to the determination of a company's profit or loss is:

• A) the new approach.
• B) the inclusive approach.
• C) the all-inclusive profit approach.
• D) the equity approach.

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Definitions:

nAch

Refers to the neurotransmitter acetylcholine's role in cognitive function and muscular activation; also a short form for the need for achievement.

Little Education

Refers to a low level of formal schooling or instructional training received by an individual.

Need for Achievement

A psychological drive that compels an individual to pursue and attain goals.

Need for Power

A personality trait characterized by a desire to control or influence others, and a preference for being in leadership positions.