A Class of Non-Current Assets as Defined by IAS 116

question 13

Multiple Choice

A class of non-current assets as defined by IAS 116 is a category of non-current assets that:

• A)were all purchased at the same time by the reporting entity.
• B)all have a similar nature or function in the operations of the entity.
• C)are disclosed as a single item without supplementary dissection in the financial report.
• D)all have a similar nature or function in the operations of the entity, and are disclosed as a single item without supplementary dissection in the financial report.

---

Definitions:

Paraplegia

A condition characterized by the partial or complete paralysis of the lower limbs and trunk, often resulting from spinal cord injury.

Furosemide

A medication used to treat fluid build-up due to heart failure, liver scarring, or kidney disease by acting as a diuretic to increase urine output.

Hearing Loss

A partial or total inability to hear, which can range from mild to profound and may affect one or both ears.

Acute Confusion

A mental state in which a person appears bewildered and may make inappropriate statements and answers to questions.