In Terms of Revenue Related Disclosures on the Face of the Statement

question 15

Multiple Choice

In terms of revenue related disclosures on the face of the statement of profit or loss and other comprehensive income:

• A) IAS 1 Presentation of Financial Statements requires revenue by category to be disclosed on the face of the statement of profit or loss and other comprehensive income.
• B) IAS 18 Revenue requires revenue by category to be disclosed on the face of the statement of profit or loss and other comprehensive income.
• C) IAS 1 Presentation of Financial Statements requires total revenue to be disclosed on the face of the statement of profit or loss and other comprehensive income.
• D) IAS 18 Revenue requires total revenue to be disclosed on the face of the statement of profit or loss and other comprehensive income.

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Definitions:

Background Extinction

The continuous, low-level extinction of species that has occurred throughout much of the history of life. Compare with mass extinction.

Continuous

A term used to describe a non-interrupted or unbroken series, sequence, or progression.

Low-Level

Referring to a minimal or reduced amount or degree in a given context.

Allopatric

Describes a mode of speciation that occurs when biological populations of the same species become isolated from each other to an extent that prevents or interferes with genetic interchange.