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

question 59

Multiple Choice

Where the entity presents current assets separately from non-current assets and current liabilities separately from non-current liabilities,AASB 101 requires items to be disclosed on the face of the statement of financial position ,including:

• A) total assets.
• B) total liabilities.
• C) total parent entity interest.
• D) all of the given answers.

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Definitions:

Capital Contribution

The funds or resources that owners inject into a company or partnership to support its operations and growth.

Personal Use

The use of a company's assets or services by an individual for their private needs, not for business purposes.

Income Ratio

A financial metric used to assess a company's ability to generate income relative to revenue, sales, assets, or equity.

Capital Balances

The amount of money or value of assets contributed by the owners or partners in a company, not including earnings or profits.