Which of the Following Items, If It Exists, Must Be

question 5

Multiple Choice

Which of the following items, if it exists, must be presented as a line item in the statement of financial position?

• A) Trade and other receivables;
• B) Revenue;
• C) Cost of sales;
• D) Share of profit of associates.

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Definitions:

Nations

Nations are large groups of people who share common history, culture, language, or ethnic origin, often occupying a particular territory or state.

Physical Capital

Tangible assets used in the production of goods and services, such as machinery and buildings.

Economic Sense

The logic or rationale behind economic decisions or policies, often evaluated in terms of benefits versus costs.

Progressed

Advanced or moved forward in development or improvement.