AASB 101 Requires Profit or Loss and the Total Comprehensive

question 51

True/False

AASB 101 requires profit or loss and the total comprehensive income for the period reported on the face of the statement of comprehensive income to be disaggregated between the non-controlling interest and the owners of the parent.

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Definitions:

Interval Level

Interval level refers to a type of data measurement that includes meaningful, equal distances between values, but without a true zero point, allowing for the measurement of difference and the use of arithmetic operations.

Ratio Level

The highest level of measurement that describes data with a true zero point and equal intervals between values, allowing for a full range of descriptive and inferential statistical operations.

Statistical Test

A procedure for making inferences about the properties of a population, based on sample data.

Legal Age

The age at which an individual is recognized by law as an adult and capable of making legal decisions.