Which of the Following Is Not a Disclosure Requirement of IASB

question 35

Multiple Choice

Which of the following is not a disclosure requirement of IASB (2011) ?

• A) progress billings in excess of costs incurred on construction contracts
• B) If control of an asset is transferred to a customer before the customer pays consideration this must be disclosed as a contract asset or receivable.
• C) If alternative descriptions are used in the statement of financial position sufficient information must be disclosed to the users to be able to distinguish between receivables and contract assets.
• D) The gross amount of work progress must be disclosed in the statement of financial position.

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Definitions:

Fundamental Attribution Error

The tendency to overestimate the influence of personality and underestimate the influence of situational factors when explaining others' behavior.

Self-disclosure

The act of revealing personal information, thoughts, or feelings to others, which can enhance relationship intimacy and trust.

Big Five Model

A theory in psychology that identifies five fundamental personality traits: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Personality Factors

Traits and characteristics that define an individual's behavior, attitudes, and emotional responses.