Which of the Following Disclosures Are Required Under IAS 18

question 1

Multiple Choice

Which of the following disclosures are required under IAS 18?
I total income, allocated between revenue and other gains
II the accounting policies adopted for revenue recognition
III the amount of each significant category of revenue recognised during the period
IV the amount of revenue arising from exchanges of goods and services.

• A) I and II only
• B) II, III and IV only
• C) I, II and III only
• D) I, II, III and IV

---

Definitions:

Average Total Cost

The total cost of production divided by the total output or quantity produced, indicating the cost per unit of output.

Average Fixed Cost

The fixed costs of production (costs that do not change with the amount of output) divided by the quantity of output produced.

Profit-Maximizing Monopolist

A monopolist who adjusts the price or quantity of the product to maximize profit, considering the market's demand curve.

Equilibrium

A state in economic models where supply equals demand, leading to a stable market price and quantity.