IAS 1 Indicates That When Presenting a Statement of Financial

question 7

Multiple Choice

IAS 1 indicates that when presenting a statement of financial position,an entity should:

• A)present all assets and liabilities as two groups and disclose their specific classifications in notes as per paragraphs 57-67.
• B)only present items on the basis of liquidity if that information is reliable and more relevant.If this is the case, assets should be discretely grouped into current and non-current classifications.
• C)present items broadly in order of liquidity if that information is reliable and more relevant than following paragraphs 66-76.
• D)always classify items as current and non-current.

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