In Respect to the Statement of Profit or Loss and Other

question 4

Multiple Choice

In respect to the statement of profit or loss and other comprehensive income of an entity, IAS 1 prescribes:

• A) a fixed format for the presentation of items in the statement of profit or loss and other comprehensive income
• B) line items that are considered to be of sufficient importance to warrant presentation
• C) the presentation of line items of revenue, but not of income
• D) the presentation of line items comprising total expenses, but not line items comprising total revenue.