Under AASB 101,which of These Items Need Not Be Disclosed

question 22

Multiple Choice

Under AASB 101,which of these items need not be disclosed separately on the face of the 'statement of profit or loss and other comprehensive income'?

• A) Income tax expense
• B) Bad and doubtful debts
• C) Finance costs
• D) None of the above, i.e., all must be disclosed separately on the face of the income statement

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Definitions:

Income Statement

A financial document that summarizes a company's revenues, expenses, and profits over a specific period, showing its operational performance.

Inventory

The total quantity of goods and materials that a business holds for the purpose of resale or production.

Source Of Supply

The origin from which goods, services, or materials are obtained, which can influence cost, quality, and delivery time.

Square-root Rule

A supply chain principle stating that the total safety stock investment is proportional to the square root of the number of locations.