The Courts, in Interpreting Statutory Law, May Rely on the Common

question 43

True/False

The courts, in interpreting statutory law, may rely on the common law as a guide to what the legislators intended.​

---

Definitions:

Comprehensive Income

Represents the total change in equity for a period that is derived from both operating and non-operating activities, excluding any owner changes.

AASB 101

The Australian Accounting Standard that outlines the presentation requirements for financial statements, ensuring their comparability both with the entity's financial statements of previous periods and with the financial statements of other entities.

Comprehensive Income

A measure of all changes in equity of a company during a period from transactions and other events from non-owner sources. It includes all revenues and gains, expenses and losses.