Where the Entity Presents Current Assets Separately from Non-Current Assets

question 43

Multiple Choice

Where the entity presents current assets separately from non-current assets and current liabilities separately from non-current liabilities what disclosure is the entity required to make under IAS 1?

• A)the reason for selecting that style of presentation
• B)the length of its operating cycle if it has clearly been identified as being greater than 12 months
• C)the net amount of working capital
• D)a list of the assets and liabilities in the order of their liquidity

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Definitions:

Activity Variances

Differences between planned activity levels and actual activity levels, often analyzed in managerial accounting to control costs.

Customers Served

The number or segment of consumers who have been provided with products or services by a business within a specific timeframe.

Planning Budget

A budget created using the expected output and efficiency at the beginning of the budget period, without any adjustments for actual activity levels.

Vocational School

An educational institution that provides specialized instruction and training in a particular career or technical field.