Under IAS 1/AASB 101, Which Format Is Subscribed for the Statement

question 35

Multiple Choice

Under IAS 1/AASB 101, which format is subscribed for the statement of financial position?

• A) No one format is prescribed
• B) Assets = equity + liabilities
• C) Equity = assets - liabilities
• D) Assets - liabilities = equity

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Definitions:

Computer-mediated Communication

The exchange of messages between two or more individuals through the use of digital devices or platforms, such as email, social media, and online forums.

Active Listening

A technique for improving the accuracy of information reception by paying close attention to the sender.

Body Language

Nonverbal communication through physical behaviors, such as gestures, posture, and facial expressions, conveying messages or emotions.

Empathy

The ability to understand and share the feelings of another.