Which Statement in Relation to the Treatment of Expenses Under

question 2

Multiple Choice

Which statement in relation to the treatment of expenses under AASB 101 is correct?

• A) It is optional for an entity with revenue from the sale of goods to disclose cost of sales
• B) Expenses should be classified according to their nature or their function
• C) Expenses are defined exactly in accordance with the Framework
• D) A and B are correct

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Definitions:

Navigation Data

Information used to determine the position and course of a vehicle, especially in air and maritime travel, including GPS data and map information.

SQL

A standard language for managing and manipulating databases, standing for Structured Query Language.

Query

A request for information or data from a database management system.

Metadata

Data that describes other data.