As Set Out in IAS 1/AASB 101,there Is a General

question 30

Multiple Choice

As set out in IAS 1/AASB 101,there is a general requirement that the financial statements must provide comparative and corresponding financial disclosures for:

• A)the previous twelve month period
• B)the previous reporting period
• C)the previous three years
• D)the previous five years

---

Definitions:

Behaviorism

A branch of psychology that studies observable behaviors, emphasizing the role of environmental factors in shaping behavior.

Cognitive Development

Refers to the progressive and ongoing growth of perception, memory, imagination, and problem-solving skills.

Concrete Operational

A stage in Piaget's theory of cognitive development, occurring roughly between the ages of 7 and 12, during which children gain the ability to think logically about concrete events.

Sensorimotor

Referring to a developmental stage in children characterized by the coordination of sensory experiences with motor actions.