In Relation to Share Capital, AASB 101 Does Not Require

question 4

Multiple Choice

In relation to share capital, AASB 101 does not require disclosure in the financial report of:

• A) the number of shares on issue at the end of the year
• B) the amount of any over or under subscription of new share issues during the year
• C) restrictions on dividends payable to certain classes of shareholders
• D) the total dollar value of share capital at the end of the year

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Definitions:

Consignee's Location

The address or place where goods are to be delivered, typically belonging to the person or entity that will receive the goods.

Gross Profit Rate

An economic indicator that calculates the ratio of net income to sales revenue after deducting the cost of goods sold.

Net Sales

Revenue from sales minus returns, allowances, and discounts.

Beginning Inventory

The value of goods available for sale at the start of an accounting period, before any purchases are added or sales are made.