Under IFRS, Which of the Following Is NOT Required to Be

question 20

Multiple Choice

Under IFRS, which of the following is NOT required to be presented separately in the statements of income/comprehensive income?

• A)revenues
• B)discontinued operations
• C)cost of goods sold
• D)depreciation/depreciation

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Definitions:

Exhaustible Resource

A natural resource, such as oil or coal, that has a finite supply and can be depleted if used unsustainably.

User Cost

The cost of using a product or service, taking into account factors such as depreciation, wear and tear, and opportunity cost of using the asset rather than investing the money elsewhere.

Depletable Resource

A natural resource that can be diminished by use, such as fossil fuels or minerals, which are not renewable over short time spans.

User Cost

The cost of using a good or service, including the actual price paid and other sacrifices (like time or effort).