Under the Provisions of Australian Accounting Standard AASB 133,a Basic

question 7

Multiple Choice

Under the provisions of Australian Accounting Standard AASB 133,a basic earnings per share is calculated as:

• A) profit or loss including extraordinary items and after income tax expense ÷ weighted average number of ordinary shares outstanding during the reporting period
• B) profit or loss excluding extraordinary items and before income tax expense ÷ weighted average number of ordinary shares outstanding during the reporting period
• C) profit or loss including extraordinary items but before income tax expense ÷ weighted average number of ordinary shares outstanding during the reporting period
• D) profit or loss before income tax expense ÷ weighted average number of ordinary shares outstanding during the reporting period

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Definitions:

Economically Viable Entity

An organization or business that has the capacity to generate sufficient income to sustain its operations profitably.

Corporate Social Responsibility

A business model that helps a company be socially accountable to itself, its stakeholders, and the public, often by practicing sustainable and ethical operations.

Hybrid Models

Business or analytical models that combine features from different traditional models, aiming to leverage the strengths and mitigate the weaknesses of each.

Microloans

Small, often short-term loans provided to individuals or small businesses, typically in developing countries, to spur economic development.