Under IAS 1,Presentation of Financial Statements,which of the Following Is

question 29

Multiple Choice

Under IAS 1,Presentation of Financial Statements,which of the following is NOT a definition of a current liability:

• A)It is a liability that is expected to be settled in an entity's normal operating cycle.
• B)It is a liability primarily held for the purpose of trading.
• C)It is a liability that does not have the right to defer until 18 months after the balance sheet date.
• D)It is a liability that is expected to be settled within 12 months of the balance sheet date.

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Definitions:

Considerable Retaliation

A significant and often disproportionate response to an action or threat perceived as harmful or unjust.

Goal Challenge

The degree of difficulty and the effort required to achieve a specific objective or target, impacting motivation and performance.

Counterproductive Behaviour

Actions by employees that go against the legitimate interests of an organization, potentially harming its well-being or functioning.

Class Action

A type of lawsuit in which a group of people with the same or similar injuries caused by the same action or product sue the defendant as a collective.