AASB 101 Contains a General Prohibition on the Offsetting of (I)

question 24

True/False

AASB 101 contains a general prohibition on the offsetting of (i) assets and liabilities and (ii) income (revenues and gains) and expenses.

---

Definitions:

RC Parallel Circuit

An electrical circuit configuration consisting of resistors (R) and capacitors (C) connected in parallel, affecting current and voltage differently.

R

Symbol commonly used to denote resistance in electrical circuits, measured in ohms (Ω).

Power Factor

The ratio of the real power flowing to the load to the apparent power in the circuit, indicating how effectively electrical power is converted into useful work output.

RC Parallel Circuit

An electrical circuit composed of resistors (R) and capacitors (C) connected in parallel, affecting the total impedance seen by an alternating current (AC) source.