IAS 1 States That an Entity Shall Present a Statement

question 25

Multiple Choice

IAS 1 states that an entity shall present a statement of changes in equity showing on the face of the statement:

• A) Total comprehensive income for the period,showing separately the total amounts attributable to owners of the parent and to non-controlling interests;.
• B) For each component of equity,the effects of retrospective application or retrospective restatement recognized in accordance with IAS 8.
• C) For each component of equity,a reconciliation between the carrying amount at the beginning and the end of the period,separately disclosing changes resulting from:
• (i)profit or loss; (ii)each item of other comprehensive income;and (iii)transactions with owners in their capacity as owners,showing separately contributions by and distributions to owners and changes in ownership interests in subsidiaries that do not result in a loss of control.
• D) All of these

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Definitions:

Starter Motor Damage

Damage to the motor responsible for initiating the engine's operation, which can be caused by electrical issues, gear engagement problems, or excessive wear.

Overspeed

A condition in which a mechanical component operates at a speed higher than its designed maximum, potentially leading to damage or failure.

Ignition Switch

A switch that controls the electrical system's activation in a vehicle, often used to start the engine.

Cranking Current

The current drawn by an engine's starter motor during the cranking, or starting, process.