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

question 39

Multiple Choice

According to AASB 101 Presentation of Financial Statements,a required format for the presentation of the statement of profit or loss and other comprehensive income is:

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

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Definitions:

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An individual who follows another in a specific role or position, often as a result of planned succession or replacement.

Advantages

Benefits or favorable factors that contribute to success or achieving a goal.

Economic Issue

A problem or situation related to the economy that affects individuals, businesses, or governments.

Grooming

The process of making oneself neat and well-dressed, often required in professional environments; can also refer to preparing someone for a specific position or role.