Which of These Is Not a Suggestion of the IASB/FASB

question 23

Multiple Choice

Which of these is not a suggestion of the IASB/FASB joint project on financial statement presentation?

• A)Multiple income statements
• B)Separate disclosure of performance and remeasurement
• C)The fact that an item is not realised will not preclude it from being included in the income statement
• D)All are suggestions

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Definitions:

Poussinistes

Followers of Nicolas Poussin (17th-century French painter) who prioritized line and drawing in art, as opposed to color and brushwork preferred by the Rubenistes.

Rubénistes

Artists or art enthusiasts who favored the color and brushwork of Peter Paul Rubens over the line and form promoted by Poussinists, in a debate within the French Academy in the 17th century.

Philosophes

French Enlightenment thinkers and writers who advocated for reason, science, and secularism in the 18th century.

Common Sense

A practical and basic level of understanding, reasoning, or knowledge that is easily understood and shared by nearly all people.