In Accordance with AASB 101 Presentation of Financial Statements,a Financial

question 47

Multiple Choice

In accordance with AASB 101 Presentation of Financial Statements,a financial report comprises:

• A) a statement of financial position, an income statement and cash flow statement
• B) a statement of financial position, an income statement, a statement of changes in equity and a cash flow statement
• C) a statement of financial position, an income statement, a statement of changes in equity, a cash flow statement and notes to the accounts
• D) a statement of financial position, an income statement, a cash flow statement and notes to the accounts

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Definitions:

Days

Units of time equal to 24 hours, representing the time it takes for Earth to complete one full rotation on its axis.

Sleep

A naturally recurring state of mind and body characterized by altered consciousness, reduced sensory activity, and inhibited voluntary muscle activity.

Death

The cessation of all biological functions that sustain a living organism, marking the end of life.

Days

Units of time equivalent to 24 hours, representing the approximate period it takes for the Earth to complete one rotation on its axis.