IAS 1 Requires the Following Items to Be Disclosed Separately

question 1

Multiple Choice

IAS 1 requires the following items to be disclosed separately in the statement of profit or loss and other comprehensive income:
I Cost of sales.
II Revenue.
III Finance costs.
IV Share of the profit or loss from associates.
V Tax expense relating to extraordinary events.
VI Tax expense relating to ordinary activities.
VII Profit or loss.

• A) I, II, VI and VII only
• B) I, II, III and V only
• C) II, III, IV, VI and VII only
• D) I, III, V and VII only.

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Definitions:

Annual Salary

The total amount of money earned by an employee in one year before taxes and deductions.

Annual Raises

The yearly increase in salary or wage that an employee receives, often based on performance, inflation adjustment, or company policy.

Down Payment

An initial, upfront portion of the total amount due, often used in the context of purchasing a home.

Additional Money

Funds that are added to an investment or budget beyond the initial amount allocated or invested.