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 what disclosure is the entity required to make under AASB 101?

• A) The reason for selecting that style of presentation.
• B) The length of its operating cycle if it has clearly been identified as being greater than 12 months.
• C) The net amount of working capital.
• D) A list of the assets and liabilities in the order of their liquidity.
• E) None of the given answers.

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Definitions:

Relative Sales Value Method

A cost allocation technique that distributes joint costs to multiple products based on their relative sales values.

Joint Costs

Costs incurred in the process of producing two or more products at the same time, which cannot be easily attributed to individual products.

Split-Off Point

The stage in a production process where different products become separately identifiable and the costs associated with each can be separately assigned.

Polka-Dot Polyester Pants

Clothing items made from polyester fabric featuring a dotted pattern, known for their durability and ease of care.