According to AASB 101 Presentation of Financial Statements,a Required Format

question 7

Multiple Choice

According to AASB 101 Presentation of Financial Statements,a required format for the presentation of a statement of financial position is:

• A)not prescribed and no guidance is provided in the standard
• B)not prescribed but guidance is provided in the standard for a suitable format
• C)prescribed by the standard
• D)not prescribed by the standard but details are found in the Corporations Act.

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Definitions:

Positive Linear Relationship

A relationship between two variables where an increase in one variable is associated with an increase in the other variable, depicted as a straight line.

No Relationship

A situation where two variables do not display any association, correlation, or cause-and-effect interaction with each other.

Independent Variable

The variable in an experiment that is manipulated by the researcher to examine its effect on the dependent variable.

Direction of Cause and Effect

Pertains to determining which variable influences the other in a cause-and-effect relationship.