Under the New Format for Financial Statements Being Proposed Under

question 99

Multiple Choice

Under the new format for financial statements being proposed under a joint IASB/FASB project

• A) the amount of detail shown in the income statement would decrease compared to current presentations.
• B) companies would be required to report income statement line items by function only.
• C) financial statements would be presented consistent with the way management usually run companies.
• D) all financial statements would adopt headings similar to the current format of the statement of financial position balance sheet.

Grasp the significance of the discussion section in interpreting and explaining findings.

Understand the role of prepublication and peer review in scientific communication.

Know how to accurately describe methods and materials to allow replicability of experiments.

Appreciate the ethical standards required in scientific writing and reporting.

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