In the 2011 Version of IAS 1/AASB 101 the Recommended

question 18

Multiple Choice

In the 2011 version of IAS 1/AASB 101 the recommended title for the income statement is:

• A)Statement of profit and loss and other comprehensive income
• B)Profit and loss statement and other comprehensive income
• C)Statement of profit or loss and other comprehensive income
• D)Statement of financial performance

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Definitions:

Straight Voting

A method of voting on corporate directors where shareholders must vote for each board position separately, often disadvantaging smaller shareholders.

Minority Shareholders

Shareholders who do not have a controlling interest in the company, often holding a smaller portion of the company's equity.

Supernormal Growth Model

A model that predicts a period of exceptionally high growth rates for a company before settling down to a stable growth rate.