Paragraph 98 of IAS 1 Lists Some Circumstances That May

question 63

Multiple Choice

Paragraph 98 of IAS 1 lists some circumstances that may give rise to separate disclosure of items of income and expense.They include:

• A)reversals of inventory write-downs.
• B)extraordinary items.
• C)finance costs.
• D)distribution costs.

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Definitions:

Founding Voice

A term referencing the influential individuals or guiding principles at the origin of an organization, movement, or nation.

Frances Willard

A prominent 19th-century American educator, temperance reformer, and women's suffragist known for her leadership of the Woman's Christian Temperance Union (WCTU).

Charity Workers

Individuals who volunteer or are employed by nonprofit organizations to help people in need, often providing social services, aid, or relief.

Families Requesting Help

Refers to families seeking assistance, which may include financial support, social services, or resources provided by governmental or non-profit organizations.