Which Term Describes Items of Income and Expense (Including Reclassification

question 14

Multiple Choice

Which term describes items of income and expense (including reclassification adjustments) that are not recognised in profit or loss as required or permitted by other Australian Accounting Standards?

• A) Operating income
• B) Other comprehensive income
• C) Net income
• D) Equity

---

Definitions:

Contributing Financially

Providing monetary resources or support to a project, individual, or organization.

Management

The act of organizing, planning, leading, and controlling resources efficiently and effectively to accomplish goals and objectives.

Positive Impact

Effects or outcomes that contribute beneficially to an individual, group, or environment.

Dissatisfied

Feeling of unhappiness or discontentment with something, often leading to a desire for change.