Under IAS 1/AASB 101 Which of These Is Most Likely

question 29

Multiple Choice

Under IAS 1/AASB 101 which of these is most likely to be classified as a non-current asset?

• A) Deferred tax
• B) Inventories
• C) Goodwill
• D) Long-term borrowings

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Definitions:

Interest Payments

Money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.

Real Values

Economic measures that are adjusted for inflation, reflecting the actual buying power of money or assets.

Classical Dichotomy

The theoretical separation of nominal and real variables in classical economics, suggesting that changes in the money supply only affect nominal variables, not real ones.

Real Variables

Economic variables measured in terms of physical quantities or adjusted for changes in prices over time, excluding inflation or deflation effects.